UKOIL | Brent Breaks Above $110! Is $120 the Next Destination?BRENT CRUDE OILTVC:UKOILArmanShabanTradingBy analyzing the #BrentOil chart on the weekly timeframe, we can see that our bullish scenario has continued playing out beautifully. Brent successfully reached our first target at $110 and pushed even higher, touching $112.7 before settling around the current $111.8 area. More importantly, price has now moved above the $101.5 – $109.5 supply zone that we highlighted on the chart. This is a positive development for buyers, although a weekly close above this region would provide stronger confirmation that the breakout can hold. In my view, as long as Brent maintains its position above $109 – $110, the next upside targets I'm watching are $115 and then the major $120 level. The $119 – $125 area also overlaps with an important bearish order block, so I expect this region to become a major test for buyers. If Brent eventually breaks above $125, the broader targets around $130 and potentially $140 could come into play. If you're following this analysis, don't forget to boost it! On the downside, if price fails to hold above the previous supply zone, we could see a pullback toward $105 – $107, followed by $101 – $103. A deeper correction could bring the $99 – $101 demand area back into focus. For now, my broader bias remains bullish, and the latest price action continues to support our previous outlook. However, with Brent approaching $115 and the major resistance around $120, I'll be watching closely to see whether buyers can maintain this momentum! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban