Reuters analyst sees Brent falling toward $102.73 after support break
Reuters technical analysis says Brent may extend losses to $102.73 after breaking $105.45 support, citing Fibonacci retracement and channel levels.
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what happened
Reuters analyst Wang Tao says the January Brent oil contract may extend its losses to $102.73 a barrel, having broken support at $105.45. He links that support to the 38.2% retracement of the uptrend that started at $91.19.
He also points to a range of $96.63 to $100 and a deeper zone of $92.19 to $95.97, which a rising channel is said to mark. Resistance sits at $105.45, and above it he sees room for a move into the $106.79 to $108.82 range.
why it matters
Technical analysis relies on support and resistance levels rather than on fundamentals such as demand, supply and inventories, so these levels are best read alongside OPEC+ decisions, oil stock data and geopolitical news. The analyst notes that the views are his own and are not investment advice.
tags
instruments
sources
- Brent oil may extend loss to $102.73 — Reuters, 3 November 2026 at 02:03 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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