{"id":35093,"date":"2026-10-22T12:16:07","date_gmt":"2026-10-22T12:16:07","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=35093"},"modified":"2026-10-22T12:16:09","modified_gmt":"2026-10-22T12:16:09","slug":"brent-wti-crude-oct-2026","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/chart-of-the-day\/brent-wti-crude-oct-2026\/","title":{"rendered":"Brent at $113: Gulf Strikes Put US Stocks on Edge"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Brent is back near $113, and its 4-hour chart is doing something important: it is holding above the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/bollinger-bands\/\">50 EMA (1sd)<\/a> while pressing into the 110.195\u2013113.635 resistance zone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is bullish behaviour, but the top of this zone is still a hurdle.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The question now is whether this is another spike in oil prices, or the start of a move that creates even more problems for stocks.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"2048\" height=\"1352\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-132.png\" alt=\"\" class=\"wp-image-35094\" style=\"aspect-ratio:1.5138036809815951;width:987px;height:auto\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-132.png 2048w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-132-300x198.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-132-768x507.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-132-1024x676.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-132-1536x1014.png 1536w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">$113.635 is the level to watch. A sustained break above it would strengthen the upside case.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A move back through $110.195, followed by a loss of the rising 4H band near $108, would make that case much less convincing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Gulf risk is no longer just talk<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Gulf headlines explain why Wall Street thinks the middle east conflict is escalating:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>On 21 October (Wednesday), attacks in Saudi Arabia killed two people at Dammam airport and another two near the Shaybah oilfield after a drone was intercepted.\u00a0<\/li>\n\n\n\n<li>Saudi Aramco then told staff to leave its Dhahran headquarters and work remotely.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Iran\u2019s Revolutionary Guard navy has <strong>also claimed that four vessels were struck and three others hit mines in Gulf waters.<\/strong> Iranian media reported explosions around Sirik on the Hormuz coast, although the cause remains unconfirmed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These are not abstract threats: shipping and energy infrastructure are already being affected.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Trump says Washington is not negotiating with Iran and that something will happen \u201cfairly soon\u201d, potentially hinting at a much unexpected pre-election strike. But he did not announce a strike date.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">BREAKING: Trump declares the US is not negotiating with Iran and that something major will happen &quot;soon.&quot;<br><br>&quot;Most people seem to think it&#39;s after the election,&quot; he added, indicating strikes before the midterms.<br><br>It comes as Trump shifted toward favoring a preemptive strike in\u2026<\/p>&mdash; The Hormuz Letter (@HormuzLetter) <a href=\"https:\/\/x.com\/HormuzLetter\/status\/2113143249225335245?ref_src=twsrc%5Etfw\">October 22, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Another X report says Iran has newly activated its decentralised Mosaic Defence. The 31 regional-command structure is real and long-established; its alleged fresh activation, if true, is a sign of escalation in the region.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">JUST IN:<br><br>Iranian officials have ordered the military to fully activate its decentralized Mosaic Defense doctrine amid growing possibility of joint US-Israeli strike.<br><br>According to reports, local commanders have received detailed target lists covering US economic and political\u2026 <a href=\"https:\/\/t.co\/KStd6KWmBK\">pic.twitter.com\/KStd6KWmBK<\/a><\/p>&mdash; Current Report (@Currentreport1) <a href=\"https:\/\/x.com\/Currentreport1\/status\/2113177723749425453?ref_src=twsrc%5Etfw\">October 22, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>WTI is rising, but not free of resistance<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"2048\" height=\"1352\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-133.png\" alt=\"\" class=\"wp-image-35099\" style=\"aspect-ratio:1.5138036809815951;width:987px;height:auto\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-133.png 2048w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-133-300x198.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-133-768x507.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-133-1024x676.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-133-1536x1014.png 1536w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">WTI tells a similar story, but with a small catch. Its <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/exponential-moving-average\/\">4H 20 EMA<\/a> band, centred near $99.95, is still supporting price at about $100.91. Yet a descending trendline is sitting almost directly above the latest candles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A confirmed break through that trendline would put 103.545\u2013106.365 back in view. Losing $98.465 would instead be the first stronger sign that the oil rally is tiring.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why the S&amp;P 500 could open lower<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"2048\" height=\"1351\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-134.png\" alt=\"\" class=\"wp-image-35106\" style=\"aspect-ratio:1.5161290322580645;width:987px;height:auto\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-134.png 2048w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-134-300x198.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-134-767x506.png 767w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-134-1024x676.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/10\/image-134-1536x1013.png 1536w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Now look at the US500, the CFD of S&amp;P 500. After breaking below its <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/rising-wedge-pattern\/\">rising wedge<\/a>, price has rallied back towards the underside of the pattern. For bears, that is exactly the sort of retest they want to see fail.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the time of writing, this rejection is holding. <strong>The 7,569\u20137,624 area and the 100-day EMA near 7,583 are the key support levels to watch.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A firm reclaim of the wedge and high zone would weaken the bearish case.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Higher crude can squeeze transport and manufacturing costs and keep inflation worries alive.<\/strong> That can leave the Federal Reserve with less room to ease, while weighing on equity valuations. Oil strength does not guarantee a stock sell-off, but it adds to the downside case ahead of the US cash-market open.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">My bias for the open is lower while the US500 remains beneath its wedge retest and Brent holds near resistance. The warning would be a sharp oil reversal or a convincing recovery in the index.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Both would tell us that the market is no longer buying the same fear.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent tests $113 as Saudi oil sites come under attack. WTI holds its 4H trend band while a bearish US500 wedge retest raises opening risk.<\/p>\n","protected":false},"author":159,"featured_media":35112,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[18],"class_list":["post-35093","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-chart-of-the-day"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brent at $113: Gulf Strikes Put US Stocks on Edge - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Brent tests $113 as Saudi oil sites come under attack. 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