In today’s technical spotlight, we turn our attention to Brent oil, a commodity that’s been in a holding pattern of late, but appears poised for a significant move. The current market scenario suggests an impending breakout, given the formation patterns observed. The price of oil is currently navigating through a pennant formation, delineated by two converging red lines. This pattern, often indicative of a period of consolidation before a substantial price move, is nearing its culmination. Additionally, this pennant also resembles an inverse head and shoulders pattern, with the upper boundary of the pennant acting as ... (full story)