Reuters analyst sees Brent possibly retesting resistance near $110.91
Reuters technical review says Brent may retest $110.91 a barrel resistance, and a break above could open the $111.91-$112.99 range.
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what happened
According to technical analyst Wang Tao of Reuters, Brent crude may test resistance at $110.91 a barrel again. A move above that level could lead to a rise into the $111.91-$112.99 range.
The author says the correction capped by the $111.91 high has formed a triangle that resembles a continuation pattern for the uptrend. The pattern would be confirmed by a break above $110.91, while a drop below $109.08 could push prices into the $107.34-$108.21 range and turn the triangle into a top. On the daily chart, he sees a confirmed bullish flag pointing to a target near $130, with a lower target of $117.80 from a rising channel.
why it matters
This is a technical scenario, not a price forecast. The analyst notes there is no trend reversal signal yet, although the $110.24 level, the 100% projection of the uptrend from $78.19, has already capped prices several times. Such conclusions rest on chart analysis and are not investment advice.
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- Brent oil may retest resistance at $110.91 — Reuters, 22 October 2026 at 01:32 UTC
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