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2025-12-16 20:28:45

[Brent Crude Oil Technical Analysis] Looking at the daily candlestick chart, after falling from the previous high of $65.27, the price initially fluctuated between $62.50 and $63.50 before breaking below the previous low of $61.51, with the bears pushing the price below $60. Recent bearish candlesticks show a downward trend with lower highs and lower lows, indicating significant resistance from the trendline. Meanwhile, after touching the lower shadow at $59.41, the price has returned to $59.63, suggesting some support near the $60 level, but this appears more like a technical pause than a trend reversal. Momentum indicators show the MACD with DIFF at -0.79, DEA at -0.52, and the MACD histogram at -0.54, all below the zero line and showing weakness, indicating that downward momentum remains dominant. The RSI is 34.14, close to the oversold threshold but not yet extreme, suggesting a potential short-term technical rebound, but this rebound is likely to be met with resistance at resistance levels. Structurally, three price bands are worth noting: the first support level is $59.41; a decisive break below this level could trigger a "stop-loss chain" leading to accelerated price swings. The first resistance levels are $60 and $61.30; only a recovery and hold above these levels could potentially pull the price back to the previous consolidation zone around $62.50. Further up, $63.50 represents the previous consolidation range, often a point of contention between short covering and bullish attempts. More significant resistance lies at $64 and $64.80; a rebound reaching these levels but failing to hold could easily turn into a second downward move, with support turning into resistance. The top of $65.27 is a reference point for the starting point of this downward move; only by regaining this range can the daily chart structure shift from a downtrend to a higher-level consolidation market.

Real-Time Popular Commodities

Instrument Current Price Change

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4338.22

5.61

(0.13%)

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67.126

1.664

(2.54%)

CONC

56.54

0.54

(0.96%)

OILC

60.48

0.76

(1.28%)

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98.717

0.277

(0.28%)

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-0.0014

(-0.12%)

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-0.0004

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0.0029

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