Reuters analyst flags possible retest of $101.13 support for Brent
Reuters technical analyst Wang Tao says Brent may retest $101.13 support, with resistance at $104.63. The view is his own and not investment advice.
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what happened
According to technical analysis by Reuters analyst Wang Tao, the January Brent crude contract may retest support at $101.13 a barrel. A break below that level could open the way toward the $97.22-$98.97 range. The market has briefly pierced below a rising channel.
The analyst also points to a possible deeper decline to $91.12, which he links to a duplicated channel. Resistance sits at $104.63; a break above it may lead to a move into the $106.79-$108.13 range. He reads the spinning top on the daily chart as a sign of temporary stabilization rather than a bullish reversal.
why it matters
These technical levels reflect the view of a single analyst and are not a forecast or a recommendation. For oil market participants they serve as reference points for stop orders and areas of interest, but decisions based on them depend on each trader's own strategy and risk tolerance. Reuters itself stresses that the analysis is not business, financial or legal advice.
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- Brent oil may retest support at $101.13 — Reuters, 4 November 2026 at 00:47 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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