UBS sees Brent near 110 dollars by year-end and raised 2027 forecasts, citing depleted inventories and record freight costs supporting prices.
Brent Crude Oil Technical Analysis: Support, Resistance & Pivot Today (Oct 28, 2026)
Technical score
Short-termdays to 2 weeks
Bullishstrong
Medium-termweeks to months
Bullishstrong
Long-termmonths and beyond
Bullishstrong
What drives the technical score
Short-termdays to 2 weeks：Bullish
- Intraday view is bullish
- Price above the 20-day average
- Daily RSI 66, positive momentum
- Daily MACD above its signal line
- 5-day up 3.1%
Medium-termweeks to months：Bullish
- Daily view is bullish
- Price above the 50-day average
- 20-day average above the 50-day
- 20-day up 14.6%
- Daily MACD above zero
Long-termmonths and beyond：Bullish
- Price above the 40-week average
- 10-week average above the 40-week
- 6-month up 3.2%
- Weekly MACD above its signal line
- Weekly RSI 64, positive momentum
The technical score combines several pieces of technical evidence, including moving-average position, momentum, recent performance, our level views and active chart patterns; more filled segments mean the evidence agrees more strongly. Support and resistance are the nearest levels from the intraday and short-term views. For reference only; not investment advice.
Brent Crude Oil 30 MINActive since Oct 23, 2026 19:00 UTC+8
Brent Crude Oil: Target level as a potential turning point
Target level↑ 112.50
Pivot level108.40
Support106.58
Our preference
Above 108.40, look for a move towards 112.50.
Alternative scenario
Below 108.40, expect 106.58 and 105.50.
Comment
Price is approaching our first target at 112.50, which may trigger a pullback; a clear break above it would open the way to 113.58. RSI is at 66 and MACD is above its signal line.
Full level ladder
| Resistance 3 | 114.67 |
| Resistance 2 | 113.58 |
| Resistance 1 | 112.50 |
| Price | 110.80 |
| Pivot | 108.40 |
| Support 2 | 106.58 |
| Support 3 | 105.50 |
Brent Crude Oil DAILYActive since 2026-09-14
Brent Crude Oil: Target level as a potential turning point
Target level↑ 116.91
Pivot level94.10
Support85.63
Our preference
Above 94.10, look for a move towards 116.91.
Alternative scenario
Below 94.10, expect 85.63 and 80.59.
Comment
Price is approaching our first target at 116.91, which may trigger a pullback; a clear break above it would open the way to 122.22. RSI is at 63 and MACD is above its signal line.
Full level ladder
| Resistance 3 | 127.54 |
| Resistance 2 | 122.22 |
| Resistance 1 | 116.91 |
| Price | 110.80 |
| Pivot | 94.10 |
| Support 2 | 85.63 |
| Support 3 | 80.59 |
AI market story
Updated 2026-10-28 13:48 UTC+8Brent uptrend intact as momentum cools near highs
Brent trades at 110.44, up 14.55% over 20 days and holding above its 20-day average of 104.92 and 50-day of 99.49. Daily RSI rose to 66, while MACD stays above its signal line but the histogram has shrunk for three sessions.
What you should know
Price journey: up or down lately?
The last day slipped 0.57%, but the broader move is up: 3.14% over five days and 14.55% over 20 days, with price at 110.44 still above the 20-day average of 104.92.
Trend: which way is the bigger picture pointing?
The bigger trend is higher. Price sits above both the 20-day and 50-day averages, and the daily pivot at 94.10 must hold for the bullish view to stay valid.
Momentum: gaining or losing strength?
Momentum is fading. RSI climbed from 61 five days ago to 66, but the MACD histogram has narrowed for three straight sessions, pointing to consolidation rather than reversal.
Key levels: which prices matter next?
Watch the upper Bollinger band at 112.14 and the 20-day high of 112.40, then 116.91 above; on the downside keep an eye on 108.40, the 20-day average at 104.92 and 106.58 as the short-term weak point.
Oil consolidates near highs as institutions see 110 year-end
Coverage centers on crude pulling back from a five-month high into flag consolidation, with WTI easing from 103.28 to around 100 as traders turn cautious before central bank meetings. One institution sees Brent near 110 by year-end despite supply recovery.
What you should know
What is the market talking about?
The market is mostly discussing crude's pullback and consolidation, plus caution ahead of central bank meetings; geopolitical risk premiums keep swinging while institutions argue supply recovery may not push prices down.
Is the news flow positive or negative?
The news tone is neutral to slightly bullish. Most reports describe high-level consolidation awaiting a breakout, and the year-end near-110 view offers no clear bearish catalyst.
How could this news affect the price?
Such news tends to keep prices choppy near highs until the range breaks; rising geopolitical risk can lift crude, while pre-meeting caution may cap chasing.
FOMC and core PCE loom, oil volatility may widen
US FOMC rate decisions, September core PCE and Q3 GDP preliminary all land within the next day. After FOMC, oil moved 1.20 dollars on average and up to 5.35 over four hours across 19 releases; core PCE averaged 2.18 dollars and up to 9.18 across 27 releases.
What you should know
What is coming up on the calendar?
The key item is the FOMC decision early on 10-29, with the lower bound expected at 3.75 and upper at 4, both unchanged; later comes September core PCE at 0.3 expected versus 0.2 prior, and Q3 GDP at 3 expected versus 2.2 prior.
How much do these events usually move the price?
After FOMC, oil averaged 1.20 dollars and moved up to 5.35 over four hours across 19 releases, about 1.3 times normal; core PCE averaged 2.18 dollars and up to 9.18 across 27 releases, with 48% closing higher.
This content was generated with the assistance of AI from the Borearis Research Team's market data and analysis. For reference only; not investment advice. How we produce this content
Volatility stop
Daily uptrendsince 2026-09-23
Long trailing stop101.17
Distance from price9.51%
Brent Crude Oil is above its daily long trailing stop. Long positions can reference 101.17 (9.51% away); it only moves up. A daily close below 101.17 signals the trend is weakening.
Calculated from the 22-day high (low) minus (plus) 3 times the average true range on the daily chart, and it only moves in the trend's favour. A common trailing-stop method, for reference only; not investment advice.
Thick line = trailing stop (green uptrend, red downtrend); vertical line = latest trend change; last 90 daily bars
Technical picture
- Price is above the 20- and 50-day moving averages, a constructive medium-term structure.
- Daily RSI is 66, positive momentum.
- Daily MACD is above its signal line; daily momentum is up.
- Price is inside the daily Bollinger Bands (97.65 to 112.22).
Related economic events this week
| 10-27 22:00 | United States Oct Richmond Fed Manufacturing IndexAfter 27 past releases, Brent Crude Oil moved $1.52 on average in 4 hours · max $3.15 | -2 |
| 10-27 22:00 | United States Oct Conference Board Consumer Confidence IndexAfter 28 past releases, Brent Crude Oil moved $1.57 on average in 4 hours · max $5.35 | 91.7 |
| 10-29 02:00 | United States FOMC Rate Decision (Lower Bound) HighAfter 19 past releases, Brent Crude Oil moved $1.20 on average in 4 hours (1.3× normal) · max $5.35 | 3.75 |
| 10-29 02:00 | United States FOMC Rate Decision (Upper Bound) HighAfter 19 past releases, Brent Crude Oil moved $1.20 on average in 4 hours (1.3× normal) · max $5.35 | 4 |
| 10-29 04:30 | United States Alphabet Q3 Earnings Call High | — |
| 10-29 05:00 | United States Microsoft Q3 Earnings Call High | — |
| 10-29 20:30 | United States Sep Core PCE Price Index MoM HighAfter 27 past releases, Brent Crude Oil moved $2.18 on average in 4 hours · max $9.18 | 0.3 |
| 10-29 20:30 | United States 3Q Real GDP Annualized QoQ Prelim HighAfter 27 past releases, Brent Crude Oil moved $2.22 on average in 4 hours · max $9.18 | 3 |
Times in UTC+8. Grey = forecast. Full economic calendar →
News and sentiment for Brent Crude Oil
SentimentVery positive 80
Last 24h3 stories
Last 7 days16 stories
7-day sentiment
Markets debate whether rising Brent crude could trigger stagflation risks for the global economy.
Brent crude eases from a multi-month high while the broader bullish structure remains firmly intact.
Gold returned above 4,000 dollars before the Fed decision, while supply risks persist and Brent crude touched a near six-month high.
Risk aversion, AI debt risks and rising oil hit assets, while Middle East conflict lifts Brent and WTI crude.
Houthi attacks on Saudi energy facilities sparked supply worries, lifting WTI 4.44% and Brent 6.51% this week.
Trade signals for Brent Crude Oil
Short-term Signals 30-minute · held a few hours to a day
No recent short-term signals for Brent Crude Oil.
All short-term signals and results →
Swing Signals 1-hour and 4-hour · held a day to a week
No recent swing signals for Brent Crude Oil.
Chart patterns in play for Brent Crude Oil
No active 15-minute to 4-hour patterns for Brent Crude Oil right now.
FAQ
Where are Brent Crude Oil support and resistance levels today?
Intraday resistance: 112.50, 113.58, 114.67. Support: 108.40, 106.58, 105.50. Pivot: 108.40 (updated Oct 28, 2026 15:09 UTC+8).
Is Brent Crude Oil bullish or bearish now?
Intraday: bullish. Short-term (daily): bullish. Bullish above 108.40, targeting 112.50 and then 113.58.
How has Brent Crude Oil been trading lately?
Brent uptrend intact as momentum cools near highs. Brent trades at 110.44, up 14.55% over 20 days and holding above its 20-day average of 104.92 and 50-day of 99.49. Daily RSI rose to 66, while MACD stays above its signal line but the histogram has shrunk for three sessions.
How do I read the Brent Crude Oil technical score?
Currently short-term bullish, medium-term bullish, long-term bullish. The technical score combines several pieces of technical evidence, such as moving-average position, momentum, recent performance, our level views and active chart patterns, into short-, intermediate- and long-term readings. More filled segments mean the evidence points the same way; neutral means bullish and bearish evidence are balanced.
Where should a stop loss go on Brent Crude Oil?
Brent Crude Oil is above its daily long trailing stop. Long positions can reference 101.17 (9.51% away); it only moves up. A daily close below 101.17 signals the trend is weakening.
Which economic events matter for Brent Crude Oil next?
FOMC and core PCE loom, oil volatility may widen. US FOMC rate decisions, September core PCE and Q3 GDP preliminary all land within the next day. After FOMC, oil moved 1.20 dollars on average and up to 5.35 over four hours across 19 releases; core PCE averaged 2.18 dollars and up to 9.18 across 27 releases.
What is the pivot?
The pivot is the line in the sand for the view. In a bullish view it sits below price; a close below it invalidates the view and a new set of levels is drawn. The reverse applies to a bearish view.
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