Brent: Uptrend intact with $114–116 in sight – Societe Generale

Societe Generale technical analysts highlight that Brent has been consolidating sideways after meeting an interim hurdle near $110 in September. The contract remains above its 50-day moving average around $97, keeping upward momentum intact. Brent is now testing a short-term descending trend line, with potential objectives at $110 and $114/$116, while the recent $102 low acts as first support.

Sideways phase within broader uptrend

"Brent has evolved within a sideways consolidation after encountering an interim hurdle near $110 in September."

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"It has remained above the 50-DMA ($97), indicating that the upward momentum remains intact."

"Brent is now attempting to break above a short-term descending trend line, highlighting the possibility of an extension of the up move."

"The next objectives could be located at $110 and the projections of $114/$116."

"The low formed earlier this week at $102 is the first support."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

РЫНОЧНЫЕ КОТИРОВКИ

Название / Символ
График
% Изменение / Цена
XBRUSD
Изменение за 1 д.
+2.29%
97.05
XTIUSD
Изменение за 1 д.
+1.88%
87.92
XPTUSD
Изменение за 1 д.
-0.01%
1525.81
XAUUSD
Изменение за 1 д.
-1.84%
3874.06