BRENT OIL - Breakout + RetestBRENT CRUDE OILTVC:UKOILVIAQUANTThis is an update to my last post: Brent has seen a breakout above the bull flag, followed by a successful retest so far. As long as price can hold above this level with tomorrow's confirmation candle, Brent should advance toward the upper price targets outlined in my last idea. In addition to the technical structure, I have also been closely monitoring spot Brent's spread relative to spot WTI. The 4H average currently sits at slightly above a 7% premium for Brent which is a level it has yet to reclaim. If tonight/tomorrow's developments severely impact Iranian supply, that would likely be the catalyst that accelerates Brent's outperformance relative to WTI. That catalyst should drive the spread back toward and potentially beyond its historical premium levels at an accelerated pace. That said, the bullish scenario remains the most likely outcome at the current point in time. If Trump follows through on his stated intentions, that catalyst could be precisely what sends Brent toward the upper targets. The current market structure is already foreshadowing that move with the breakout and retest now in place. Watch tonight and tomorrow's developments closely.