Brent crude oil Wave Analysis – 24 March 2025

Brent crude oil: ⬆️ Buy

– Brent crude oil broke resistance zone

– Likely to rise to the resistance level 73.60

Brent crude oil recently broke the resistance zone between the resistance level 71.30 (top of wave A), resistance trendline of the daily down channel in January and the 38.2% Fibonacci correction of the downward impulse from February.

The breakout of this resistance zone accelerated the C-wave of the active intermediate ABC correction (2) from the start of March.

Brent crude oil can be expected to rise to the next resistance level 73.60 (top of the previous minor correction 4 from the end of February).