Market Technical Analysis by RoboForex

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Brent crude prices fluctuate between hope for peace and the harsh reality of shortages

Brent prices remain in a narrow range while waiting for news on the resolution of the Middle East conflict. Brent quotes are trading around 92.50 USD. Discover more in our analysis for 16 April 2026.

Technical outlook

On the H4 chart, Brent prices formed an Inverted Hammer reversal pattern near the lower Bollinger Band. At this stage, as the signal plays out, quotes may form an upward wave, with the 101.75 USD resistance level as the upside target.

Oil prices remain hostage to the White House administration, with their future course depending on the outcome of the negotiations between Iran and the US.

Read more - Brent Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team