Brent Crude Oil Market Hits 200-Day EMA, Weekend Gaps Loom

The Brent crude oil market has been experiencing volatile behavior in recent months, and this trend continues as it approaches the $85 price level.

According to TradingView, the Brent market pierced its 200-day Exponential Moving Average (EMA) near $84 but stalled just below $85, with the 50-day EMA at $86.46 overhead.

The market's behavior suggests that it may be experiencing confused behavior, as it has turned around and failed to break through the $85 level.

As a result, traders are advised to exercise caution due to the increased volatility and danger of gaps in either direction over the weekend.