NewsSignals AI analysis·Reuters·Nov 2, 2026

Brent oil may test support at $110.29

Grade Bbearish AI signal$BRENT

Brent crude oil faces growing downside risk, with technical analysis pointing to a potential break below $110.29 support and a decline toward $106.79-$108.13 per barrel. The January contract failed twice to overcome $113.79 resistance, while bearish divergence on the hourly MACD suggests weakening momentum; immediate resistance stands at $113.04. Further selling could push Brent toward $105.88-$110.24, although a bullish flag pattern leaves open the possibility of a recovery toward $130.

Bullish strength: 25/100

A bullish flag pattern indicates a potential upside target around $130.
A break above $113.04 could open a move toward $113.79-$115.95.

Bearish strength: 75/100

Brent failed twice to break $113.79 resistance.
Bearish hourly MACD divergence signals weakening momentum.
Price may break below $110.29 support.
Potential downside targets include $106.79-$108.13 and $105.88-$110.24.
Daily channel analysis suggests a possible decline toward $94.21.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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