XBRUSD: Double-top

XBRUSD, Daily

In the Daily timeframe, XBRUSD formed a double-top pattern after a period of volatility amid geopolitical tensions. Price reached the neckline, but it fell below the lower Bollinger line, requiring two scenarios to be considered.

• If the bears drop the price below 75.20, the target will be 72.00;

• A rebound from support would take Brent back to resistance at 78.40 and then to 81.70;