- Brent Crude Oil surges 5% intraday to $108.096 — highest price since May, per WatcherGuru
- Intraday chart shows bullish impulse from $102 base through $106–$107 consolidation before breakout
- $106.00 is the key support level on any pullback; $108.10 is current multi-month resistance ceiling
Brent Crude Oil has surged 5% intraday to $108.096 per barrel — its highest price since May — according to WatcherGuru.
What Happened
In a sharp single-session move, spot Brent Crude printed a session high of $108.096, breaking through a brief consolidation zone between $106.00 and $107.25 before continuing higher. The move marks a multi-month high and represents a 5%+ gain within the trading session.
Intraday chart structure shows a classic bullish impulse: price built a base near the $102.00–$102.50 support zone, consolidated mid-rally around $106–$107, briefly wicked down to approximately $105.50 to test buyers, then resumed upward with the final candle showing strong buying momentum and a minimal upper wick.
Key Levels to Watch
With price at multi-month highs and thin overhead resistance above $108.10, the path of least resistance remains upward — but a 5%+ single-session move raises the risk of short-term mean reversion. The $106.00 level, which served as consolidation resistance, now functions as the nearest support on any pullback. A sustained hold above that level is necessary to maintain bullish structure.
The sharp commodity move arrives at a moment when macro cross-asset correlations are in flux. As noted in recent CoinsProbe coverage, Bitcoin’s correlation with gold has risen to near six-year highs while its Nasdaq link has fallen — a backdrop in which energy and commodity volatility carries increasing macro significance for digital asset markets.
Frequently Asked Questions
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Source: WatcherGuru · Published by CoinsProbe Markets Desk
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