Brent Oil: The 23.6% fibonacci level has held twice

Carol Harmer Charmer Trading

Brent has now failed four times to breach the 120.00 area, and unless we see a clean break and sustained move above 121.00, the pressure remains to the immediate downside.

The 23.6% Fibonacci level has held twice, but with stochastics turning negative, momentum is softening.

No one wants to sell into a space‑shuttle bull market, but Brent and WTI remain heavily news‑driven. Technical levels matter — until a headline hits and the market reacts in seconds.

Downside levels:

105.80 is the first key support, followed by 102.00, then the deeper 97.00–95.00 zone.

Topside levels:

A confirmed break above 121.00 opens the door to 128.35, with 133.40 as the immediate extension target.

Brent is sitting at a pivotal point — trapped between repeated rejection at the highs and a Fib level that’s holding… for now

This is not to be construded as investment advice...My Money, My Risk.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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