Brent Crude Oil Pulls Back at $93.00 Resistance

The price of Brent crude oil pulled back from its recent peak as it hit our predicted target of $93.00.

This comes after emerging negative signals were seen in the relative strength indicators, which showed the price attempting to find a higher low that could serve as a base for recovery and breaking through the resistance level.

The main short-term uptrend remains dominant, but the resilience of the $93.00 level is limiting further gains for now.