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Brent Crude Surges as Impulse Wave 3 Extends Above 90.00
April 29, 2026 at 01:19 AMBy AlphaScala Research DeskSource reporting: Action ForexEditorial standards
Brent crude oil gains momentum following a decisive reversal from the 90.00 support level. Watch for Fibonacci extension targets to gauge trend intensity.
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Brent crude oil prices are maintaining a sustained upward trajectory as the asset advances within a sharp minor impulse wave 3. This technical progression follows a decisive reversal from the 90.00 support level, a threshold that previously served as a floor for bearish exhaustion. The current momentum suggests that the market is prioritizing the extension of this impulse phase over consolidation, reflecting a shift in short-term trend strength.
Technical Drivers of the Impulse Wave
The transition from the 90.00 support level into the current impulse wave indicates a structural shift in buying interest. Impulse waves are characterized by high-conviction directional movement, often resulting in rapid price appreciation as the asset clears previous resistance zones. By moving decisively away from the 90.00 level, the market has confirmed that the previous support zone is now acting as a foundation for further gains rather than a pivot point for a range-bound environment.
This upward movement is consistent with broader energy sector trends where supply-side constraints often dictate the pace of price discovery. When an asset enters an impulse wave 3, it typically signals that the underlying trend has gained significant velocity. The ability of Brent to hold these gains suggests that the market is currently discounting potential supply disruptions or demand-side resilience, effectively pushing the price toward higher Fibonacci extensions.