Brent Crude Oil downtrend continuation below 6350Brent Crude Oil selling pressure continuation
Brent Crude Oil is showing bearish sentiment, in line with the current downtrend. Recent price action confirms a break below a key consolidation zone, adding pressure to the downside.
Key Levels:
Resistance: 6350 (former support, now resistance), 6622, 6774
Support: 5762, 5505, 5040
Bearish Outlook:
Price has broken below 6350, which was a key intraday consolidation level. If WTI sees a short-term bounce but fails to break above 6350, it could resume its downward move toward 5760, then 5505, and possibly 5040 over time.
Bullish Scenario:
If Brent Crude breaks above 6350 and closes above it on the daily chart, the bearish setup would be invalidated. This could open the door for a rally toward 6620, then 6770.
Conclusion:
The trend remains bearish below 6350. A rejection at this level would reinforce the downside bias. However, a confirmed break and daily close above 6350 would shift the outlook to bullish in the short term.
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