Brent Oil Analysis – 27.Jul.2026
Brent Oil Analysis: By analyzing the #BrentOil chart on the weekly timeframe, we can see that after our previous analysis, Oil reacted perfectly from the major $102 supply zone and entered a strong corrective move.
Following renewed ceasefire headlines, Brent opened this week with a massive bearish gap. Price closed last week around $98.69, but the market reopened on Monday near $88.80. Currently, Brent Oil is trading around the $86.50 region.
Despite the current weakness, this large gap remains one of the most important areas on the chart. In my view, price may eventually return to fill at least part, and potentially all, of this imbalance.
The next short-term and medium-term upside targets are $88.80, followed by $91, $94, $96.50, and then the main gap-fill target around $98.70. If bullish momentum becomes stronger again, Brent could also revisit the psychological $100 level and potentially the previous $102 supply area.
Personally, I do not fully trust the current de-escalation narrative. This gap suggests that the market is still pricing a major temporary shift, but any renewed tension could quickly push Oil higher again.
Price action will tell us whether the ceasefire can truly hold or whether the market is preparing for another period of escalation.
(This Post on TradingView)
Author : Arman Shaban
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