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Brent Crude Oil: Weekly Structure

  • Writer: Lester Davids
    Lester Davids
  • Aug 7, 2024
  • 1 min read

Updated: Apr 8

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A prolonged period of consolidation has been in play however, we are now seeing the bearish structure unfold as was discussed on 07 August. Link To Original Post: https://www.unum.capital/post/zooming-out-brent-crude-oil-wednesday-07-august-2024










The updated chart, reflecting the breakdown, is as follows:

Brent Crude Oil Daily Chart as of Tuesday 08 April at 21h51 (S. African Time / U.S. Trading Session)
Brent Crude Oil Daily Chart as of Tuesday 08 April at 21h51 (S. African Time / U.S. Trading Session)
 

ZOOMING OUT: Brent Crude Oil - Wednesday, 07 August 2024

REAL-TIME: 21h39 / U.S. TRADING SESSION


The technical vulnerability is recognized in this flash view of the commodity's weekly chart.

  • Here, a 'topping structure' similar to that seen in the period December 2018 to January 2020.


Lester Davids

Analyst: Unum Capital

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