Brent Oil Eyes $100 as WTI Holds Support Above $77.50

On the 4-hour chart, WTI rebounded from $77.50 support, the neckline of a rounding bottom pattern. The move pushed the price above a trend line from the April high, Umair noted. The RSI hit oversold as the price tested support, pointing to further short-term upside, he said. A break below $77.50 would open a drop toward $70.

The daily chart shows additional support at $80.50, where the earlier rebound began. WTI has traded in a $66 to $120 range over recent months, reflecting high volatility, Umair said.

Brent crude rebounded from $85 support, where the 50-day and 200-day SMAs intersected. That confluence acted as a strong pivot, Umair said. A break below $85 would weaken the short-term trend and target $81. A recovery above $93 could push Brent toward $100. The weekly chart shows Brent dropped sharply from the $100 resistance area, then produced a long lower shadow last week. The correction to $85 introduced a rally. A weekly close above $100 would open the path to $120, Umair said.