# Brent Crude Oil: Diagonal Pattern Analysis

> Brent crude oil's Elliott Wave structure hints at either a bullish ending diagonal or leading diagonal pattern.
- Title: Brent Crude Oil: Diagonal Pattern Analysis · TradingView
- Summary: Brent crude oil's Elliott Wave structure hints at either a bullish ending diagonal or leading diagonal pattern. Brent crude oil may complete an ending…
- Keywords: brent crude oil, elliott wave, ending diagonal, leading diagonal, price target, structural invalidation, business, finance, Brent, Crude, Oil, Diagonal
- Source: TradingView — https://tradingview.com/chart/UKOIL/uomuzDhk-Brent-Diagonal
- Published: 2026-10-21T14:20:51+00:00
- Read time: 1 min
- Topics: brent crude oil, elliott wave, ending diagonal, leading diagonal, price target, structural invalidation, business, finance
## Elliott Wave Decision Point
Brent crude oil approaches an Elliott Wave structural decision point after a strong upward sequence from July low.
## Ending Diagonal Scenario
The current advance may complete a five-wave Ending Diagonal, requiring a corrective retracement before the bullish trend resumes.
## Leading Diagonal Scenario
A Leading Diagonal could precede a sharp bullish acceleration with potential price targets of $107.643, $130.629, and $167.928.
## Critical Invalidation Level
A break below $79.638 would signal a larger corrective structure rather than continuing the bullish sequence.
## Bullish Outlook
The bullish outlook remains viable but depends on whether the structure is an Ending Diagonal or Leading Diagonal pattern.
## Market Decision
The market's response to key levels and internal wave structure will determine which scenario remains valid for Brent crude oil.
## Key takeaway

Brent crude oil may complete an ending diagonal or leading diagonal pattern, with $79.638 as a critical invalidation level.