HomeContributorsTechnical AnalysisBrent Crude Oil Wave Analysis

Brent Crude Oil Wave Analysis

  • Brent crude oil broke resistance level 86.70
  • Likely to rise to resistance level 90.00

Brent crude oil recently broke the resistance level 86.70, which reversed the price with the daily Evening Star in March.

The breakout of the resistance level 86.70 was preceded by the breakout of the resistance trendline of the daily up channel from December.

Brent crude oil can be expected to rise further to the next round resistance level 90.00, target price for the completion of the active impulse wave iii.

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading