Brent crude continues to post strong gains in its recent intraday trading, approaching the key resistance level at $112.00, this level was one of our previously projected price targets. However, the market is currently showing a phase of relative calm, during which the price is attempting to take profits from its prior gains while building positive momentum that could help it break above this resistance.

 

The price remains supported by dynamic pressure as it continues to trade above EMA50, reinforcing the stability and dominance of the main short-term bullish trend. This is further supported by movement along an upward trendline, along with ongoing positive signals from relative strength indicators, despite reaching heavily overbought levels.