UKOIL | Oil Reaches $107.8 As Geopolitical Risk Keeps Building!BRENT CRUDE OILTVC:UKOILArmanShabanTradingBy analyzing the #BrentOil chart on the weekly timeframe, we can see that price once again followed our bullish scenario and continued moving higher, reaching as high as $107.8 today. Brent is currently trading around $107. At the same time, tensions between Iran and the United States continue to increase, keeping geopolitical and supply risks elevated. As long as this environment continues, I still believe Oil has room to move toward higher levels. If this analysis has been useful so far, give it a Boost to support my work and let me know you want more Brent Oil updates. š The next upside targets Iām watching are $110, $115 and then the major $120 level. If Brent eventually breaks and stabilizes above $120, the broader targets around $125, $130 and potentially $140 remain valid. On the downside, the nearest areas I would watch for demand are around $103 ā $105, followed by $99 ā $101 and then $94 ā $96. For now, nothing important has changed in my main scenario. My broader bias remains bullish, and the reaction as Brent approaches $110 and eventually $120 will be very important.