Categories: Technical analysis

Brent Crude oil Wave Analysis 10 September 2024

– Brent Crude oil broke key support level 72.60

– Likely to fall to support level 68.00

Brent Crude oil recently broke the support zone located between the key support level 72.60 (former multi-month support from December) and the support trendline of the daily down channel from July.

The breakout of the support level 72.60 accelerated the active impulse waves iii, 3 and (3).

Given the clear downtrend, Brent Crude oil can be expected to fall further to the next support level 68.00, target price for the completion of the active impulse wave iii.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team

Recent Posts

Solana Wave Analysis – 5 December 2025

Solana: ⬇️ Sell - Solana reversed from resistance zone - Likely to fall to support…

1 hour ago

EURAUD Wave Analysis – 5 December 2025

EURAUD : ⬇️ Sell - EURAUD broke the support level 1.7600 - Likely to fall…

1 hour ago

Forex has set its priorities

In 2026, experts favour the yen, see modest euro growth, and expect pressure on the…

5 hours ago

Bear market rebound in crypto is likely to continue

Crypto rebounds continue; Bitcoin faces resistance, with a mixed market outlook ahead, as regulatory changes…

6 hours ago

Coca-Cola Wave Analysis – 4 December 2025

Coca-Cola: ⬇️ Sell - Coca-Cola reversed from long-term resistance level 73.25 - Likely to fall to…

20 hours ago

DraftKings Wave Analysis – 4 December 2025

DraftKings: ⬆️ Buy - DraftKings reversed from support zone - Likely to rise to resistance level…

20 hours ago

This website uses cookies