Brent Oil Analysis – 06.Jul.2026

Brent Oil Analysis: By analyzing the #BrentOil chart on the weekly timeframe, we can see that after correcting toward the $70 region, price is now trading around $72 and still moving inside the important demand zone we discussed earlier. For now, Brent Oil is still ranging in this area and the market is waiting for a stronger catalyst to finally trigger a clear reaction. If buyers step in with momentum, the bullish recovery scenario can still remain valid.

The nearest demand zones are located around $70 – $72, followed by deeper support around $65 – $68. On the upside, the closest supply zones are around $75 – $78, followed by stronger resistance areas around $82 – $85 and $90 – $93. If Brent starts recovering from this demand zone, the next upside targets to monitor are $75, followed by $78, then $82, $85, and potentially $90 if bullish momentum continues.

However, if price loses the $70 – $72 demand zone, the next important downside areas to watch are $68, followed by $65. For now, Brent Oil is still sitting in a key decision zone. We need to see whether buyers finally react strongly from this area or if sellers push price toward deeper demand levels.
(This Post on TradingView)

Author : Arman Shaban
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