Brent is forming a similar formation as in 2014/15
Hello dear friends and technicians.
In my opinion the brent is forming the same formation as in 2014/15. The price declined heavily and because of supply has been depreciating lately which has led to higher price. Venezuela, Iran, China/USA, Saudi/Russia, Brexit etc are important events that will change the course of the brent. I am unfortunately quite pessimist and believe that USA will not apply restrictions against Venezuela, USA will not achieve a good deal with China, OPEC will increase the supply of brent and will not enter an agreement with Russia, Iran will increase its supply and will continue to sell to China and Brexit will happen with nothing for the British people.
What do you guys mean?
Your future analyst.
RR
In my opinion the brent is forming the same formation as in 2014/15. The price declined heavily and because of supply has been depreciating lately which has led to higher price. Venezuela, Iran, China/USA, Saudi/Russia, Brexit etc are important events that will change the course of the brent. I am unfortunately quite pessimist and believe that USA will not apply restrictions against Venezuela, USA will not achieve a good deal with China, OPEC will increase the supply of brent and will not enter an agreement with Russia, Iran will increase its supply and will continue to sell to China and Brexit will happen with nothing for the British people.
What do you guys mean?
Your future analyst.
RR
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