Brent Oil Holds Steady Near $107 as Technical Resistance Tested

Brent crude has stalled just below the $107 mark, caught between a recent double‑top pattern and a key support level that traders are watching closely. The benchmark, which closed at $107.18, has not broken through the resistance created by the earlier peak, and any move above $108 would signal a breakout.

In the same session, West Texas Intermediate (WTI) slipped to $96.96, down 2.08%. Gold edged up to $4,182.15, a 0.40% gain, while silver traded at $57.74, rising 0.76%. Copper finished at $6.5945, a modest 0.32% rise, and aluminum slipped to $2,990.50, down 0.60%. Natural gas was slightly lower at $3.114, down 0.06%.

Analysts note that the current consolidation could precede a breakout if market sentiment shifts. Investors are keeping a close eye on the support zone around $106.5, which, if breached, could lead to a sharper decline. Conversely, a break above the $108 resistance could herald a new rally.

The commodities market remains sensitive to geopolitical developments and supply‑demand dynamics, and traders are advised to monitor price action closely as the week progresses.