Brent Crude Oil Wave Analysis – 18 October, 2019

• Brent Crude Oil rising inside impulse wave (iii)
• Likely to rise to 54.90

Brent Crude Oil continues to rise inside the short-term impulse wave (iii) – which belongs to the impulse wave 3 from the start of October.

The active impulse wave 3 belongs to the intermediate impulse sequence (3) from the start of August.

Brent Crude Oil is expected to rise further and retest the next resistance level 54.90 (top of the previous impulse wave (i)).