Brent Crude BRENT technical analysis

BRENT is at $95.934, down 4.78% over 24 hours. The 4h RSI sits at 43 while the daily reads 57, and price holds below the 4h SMA20 at 101.271 but above the daily SMA20 at 97.809.

The immediate battle is the 4h resistance at 95.9465-96.2335 (2 touches) against the 4h support at 94.6665-94.9535 (1 touch). Below that, 92.77-94.04 carries 6 touches, the heaviest zone on the chart.

Bulls would need acceptance above 96.2335, with 96.7665-97.0535 (2 touches) and 97.61-98 (3 touches) above. Bears need a break of 94.6665, then 92.77-94.04. The rising daily trendline near 93.81 (2 touches) sits within that zone.