Brent crude is consolidating near $63.20, holding firmly within a rising channel that has guided the rebound since the late-November low at $60.53. The 50-EMA at $62.92 continues to provide short-term support, while the 200-EMA at $63.71 caps further upside, creating a narrowing zone of compression. A breakout above the 200-EMA would clear the path toward $64.42 and the upper channel line near $65.00.
Momentum remains constructive, with RSI hovering around 55, suggesting steady—but not overstretched—buying interest. A drop below $62.10 would weaken the structure and expose $61.34, but as long as price holds the channel floor, Brent retains a mild bullish bias.
