Commodities
Brent Crude Oil Pulls Back 3% on Strong Selling Pressure
Brent Crude Oil experienced a significant price pullback of 3.02% to $101.82, driven by strong intraday selling pressure and a marked downside gap at the open.
The decline appears limited, with Brent Crude still supported by its position above the 20-, 50-, and 200-day moving averages, indicating a persistent bullish structure across all timeframes.
Despite being overbought, momentum indicators suggest that buyers retain dominance, and a projected five-day range of $97.69 to $105.94 indicates a high probability of upward movement.