Brent: Uptrend eyes 102 and 110 – Societe Generale

Societe Generale strategists note Brent has held above key moving averages near $85/84, keeping upward momentum intact as geopolitical tensions and higher energy prices drive a broader bond rout. They highlight a critical resistance at $95 and suggest that a sustained break could open the way toward the July high at $102 and projections around $108/110.

Oil extends bullish technical structure

"Brent has so far maintained above the confluence of the 50-DMA and 200-DMA around $85/84, highlighting the prevalence of upward momentum. It is now challenging a multi-month descending trend line."

TMGM tahlili: Moliyaviy bozor yangiliklari, iqtisodiy kalendar va bozor tahlillari

"The recent pivot high of $95, which also represents a downside gap, is an interim hurdle."

"Defence of the support near $85/84 may lead to a continuation of the upward move."

"If Brent overcomes $95, a larger uptrend is likely towards the July high of $102 and projections around $108/110."

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

JONLI KOTIROVKALAR

Nomi / Simvol
Grafik
% O‘zgarish / Narx
XBRUSD
1 kunlik o‘zgarish
-0.37%
95.19
XTIUSD
1 kunlik o‘zgarish
-0.49%
86.64
XPTUSD
1 kunlik o‘zgarish
-1.59%
1542.76
XAUUSD
1 kunlik o‘zgarish
-1.59%
3986.49