The price of Brent crude oil is close to the local support level. Which is clearly expressed on the chart at $71. Also on the chart you can see the trend resistance level, which presses the price to the horizontal support level. In the near future, a breakdown of the structure may occur, which could potentially push the price above $80. This may be affected by the geopolitical situation in Russia. Which is the leader of OPEC +
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.