Brent crude is trading near $61.40 on the 4-hour chart, holding within a well-defined descending channel that has guided price lower since early December. Recent candlesticks show modest rebounds with long lower wicks, suggesting buyers are defending dips rather than chasing breakouts.
Price remains capped below the 50-EMA around $62.10 and the 100-EMA near $63.30, keeping the broader bias tilted lower.
Immediate support sits at $60.75, followed by $60.25, which aligns with the lower channel boundary. A clear break below this area would expose $59.75. On the upside, resistance is seen at $61.85, then $62.70, where prior support and the channel top converge. RSI is near 45, pointing to weak momentum without oversold conditions, favoring consolidation within the channel.
