BRENT: Navigating Downside Pressure Towards Key Support

The crude oil market, specifically BRENT, continues to exhibit a bearish bias, with the current price at 77.2394 following a 0.72% decline over the past 24 hours. My analysis indicates that this trend is likely to persist over a position timeframe, offering a short opportunity as fundamental pressures continue to weigh.

Technical Outlook and Trade Structure

From a technical standpoint, BRENT is trading within a day range of 76.3985 to 78.0803, with the overarching trend firmly bearish. I am targeting an entry around 77.51, which aligns closely with the immediate resistance level of 77.5. This level acted as a pivotal point previously, and a retest here, if it holds, would confirm the downward momentum. My stop-loss is strategically placed at 78.86, comfortably above the stronger resistance levels of 78.0803 and 78.00