Brent crude oil posted a slight decline during its most recent intraday session, influenced in part by emerging negative signals from the Relative Strength Index (RSI). Despite this brief dip, the commodity appears to be gathering positive momentum that could support a renewed upward movement.
The ongoing bullish sentiment remains intact on the short-term chart, underpinned by a key technical factor: Brent’s continued trading above its 50-day exponential moving average (EMA50). This dynamic support has repeatedly acted as a buffer against deeper declines in recent sessions.
With the broader uptrend still dominant, Brent is attempting to consolidate and build strength for a potential rebound. Market participants will be watching for confirmation of this recovery as the commodity navigates near-term resistance levels.
