Brent Crude Oil Tests Defining Resistance Level
The BRICS summit call for maximum restraint has not removed the security premium in the energy complex, with an unresolved U.S. Iran situation and transit risk through the Strait of Hormuz still in the frame
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The BRICS summit’s call for maximum restraint has not removed the security premium from the energy complex, with the unresolved U.S.–Iran situation and Strait of Hormuz transit risks still in focus.
- Brent crude is testing defining resistance near $108, with escalation and reversal risks in play.
- U.S. 10-year yields are testing a critical resistance zone near their 2007 highs.
Is the market on the edge of another breakout or reversal?
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