Brent Crude – Will it Break Below $50

Brent crude has found a new lease of life in the last 24 hours, having come under significant pressure in recent weeks around what has turned out to be a significant level of support.

So what spurred the sudden move higher in Brent? Will it last or is the psychologically significant $50 a barrel level destined to break?

Senior Market Analyst Craig Erlam discusses all of this and gives his analysis on the daily, 4-hour, 1-hour and 15 minute charts.

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam