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Brent crude is pushing higher within an ascending channel, with price action extending firmly above the $74.55 pivot. The rally has been supported by three consecutive bullish candles, which drove prices through key moving averages.
The 50 EMA ($72.87) has crossed back above the 200 EMA ($72.79), reinforcing bullish sentiment and marking a potential trend shift.
Immediate resistance sits at $75.62, followed by a key test at $77.08. On the downside, $74.55 acts as a fresh support level, followed by $73.64 if prices pull back. Price remains well above the midline of the rising channel, with strong momentum and structure favoring further upside.
As long as Brent holds above $74.55, the bullish bias remains intact. A breakout above $75.62 could accelerate gains toward $77.00+
Brent crude extends its rally above key EMAs, supported by bullish candles and an intact upward channel. Breakout above $74.55 keeps buyers in control.
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