Brent Crude Oil Wave Analysis – 27 October 2026

Brent Crude Oil: ⬇️ Sell

– Brent Crude Oil reversed from strong resistance level 113.20

– Likely to fall to support level 106.70

Brent Crude Oil recently reversed down from the resistance zone between the strong resistance level 113.20 (which stopped wave (A) in March and wave B at the start of May), upper daily Bollinger Band and the resistance trendline of the daily up channel from August.

The downward reversal from this resistance zone started the active short-term correction inside the impulse wave iii from the start of October.

Given the strength of the resistance level 113.20 and the overbought daily Stochastic, Brent Crude Oil can be expected to fall further toward the next support level 106.70 – former strong resistance from September, which stopped earlier impulse wave i.