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.
GBP/USD – What Next After Article 50?
Can Oil Build on Yesterday’s Gains?
Weekly Market Snapshot – 28 March 2017 (Video)
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Craig Erlam
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.
Latest posts by Craig Erlam (see all)
- Market Insights Podcast – US GDP, RBNZ holds, bitcoin soars - 28 February 2024
- Market Insights Podcast – Nvidia earnings, record highs for stocks - 23 February 2024
- EUR/USD – A bullish breakout or just further consolidation? - 22 February 2024