Brent Crude Oil Wave Analysis – 23 November , 2018
November 23, 2018 @ 17:43 UTC
- Brent Crude Oil falling inside sharp impulse wave 5
- Further losses are likely
Brent Crude Oil continues to fall in the sharp short-term impulse wave 5 – which belongs to wave (C) of the strong extended downward ABC correction ② from the start of October.
The price today broke through the key support level 61.70 – which has been repeatedly reversing the price from the middle of November.
Having just broken through the key support level 60.00 – Brent Crude Oil is expected to fall further and retest the next major support at 50.00