- Brent’s 15-minute chart shows bearish channel breakout.
- Immediate resistance is located at $67.14.
Brent oil could soon challenge immediate resistance at $67.14, as the 15-minute chart is reporting an expanding descending channel breakout.
The pattern indicates the bull breather or the temporary pullback from Thursday’s high of $67.62 has ended and the rally from lows near $63.75 seen on July 9 has resumed.
A break above $67.14 would open the doors to $67.72. The bullish case would weaken if prices drop below support at $66.70.