Buying Brent crude with $105.60 in sight amid ongoing supply crunch

On April 14, 2026, Brent crude staged a weak comeback after a long and painful decline. Still, prices managed to stay above $100 per barrel. 

The daily chart with Bollinger Bands shows a textbook pattern of hesitation. Quotes are stuck in the lower half of the channel, and the middle line is running flat—a clear sign that no one is in the driver's seat. In short, we're in sideways consolidation mode. The lower band at $94.19 stands as the nearest technical support zone, while the middle one at $105.32 acts as both resistance and a benchmark for any potential upside push. 

Since April 10, the Chaikin Oscillator has been camped in negative territory, screaming selling pressure. Until it turns higher, any price bounces should be treated as temporary corrections, not the start of a new trend. In spite of that, there is a glimmer of hope: today's slowdown in the oscillator's descent could be the first hint that buyers are starting to stir.

Trading volumes have been steady since the April 7 washout, offering no clues about which side is gaining strength. Meanwhile, the $92.50–$95.60 zone has been a magnet for bulls—just look at the long lower wicks and the sharp rebound on April 8. Buyers are now holding the line, even if they aren't charging forward. 

Let's be honest; the fundamental case is the real story here. The Strait of Hormuz has effectively been closed for seven weeks. OPEC production plummeted by an astonishing 7.88 million barrels per day in March. Physical spot prices have already blown past historic highs. Futures, however, are still asleep at the wheel. The upcoming International Energy Agency (IEA) report could be the wake-up call that finally closes the gap between perception and reality once and for all.

Ready to make a move? Here's the trading plan:

Buy Brent crude near $100 per barrel. Lock in profits at $105.60. Place Stop Loss at $96.00.

This forecast holds true from April 14 till April 21, 2026.