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2025-11-03 09:03:05
[Brent Crude Oil Poised for a Breakout, Key Resistance at $65.50] 1. Technical analysis suggests that Brent crude futures may once again challenge the key resistance level of $65.50 per barrel. A successful break above this level could open up further upside potential, targeting the $65.82 to $66.05 range. 2. Current oil prices have found effective support and stabilized around $64.23, having previously briefly broken through the $65.21 resistance level. The market anticipates that, supported by current momentum, contract prices are likely to continue moving towards the next resistance level of $65.82. 3. From a technical perspective, projection analysis based on the C wave starting from $64.07 shows that $65.50 (the 100% projection level) constitutes a significant obstacle. Only a valid break above this level can confirm the next target of $65.82. 4. On the downside risk side, $64.95 is the nearest support level. If oil prices fall below this level, it could signify the end of this C-wave upward movement, and the market may then turn its attention to the bearish target of $64.23.
