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Brent Crude Oil Wave Analysis – 05 November, 2019

  • Brent Crude Oil broke key resistance level 61.90
  • Likely to rise to 64.00

Brent Crude Oil recently broke above the key resistance level 61.90 (top of the previous impulse wave (i) from the end of October).

The breakout of the resistance level 61.90 accelerated the active short-term impulse wave 3 of the medium-term impulse sequence (3) from last month.

Brent Crude Oil is expected to rise further and retest the next resistance level 64.00 (target for the completion of the active impulse wave 3).

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