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Video: Brent Oil Price Analysis for July 2020 – Can OPEC+ Counter Demand Fears?

July 15, 2020 at 14:49 by Vladimir Vyun

In the present video, David Jones from Capital.com provides his forecast for crude oil in July 2020. He starts the video by discussing the recent performance of crude and factors that were driving it as well as factors that will be affecting it in the future. Next, David lists important support and resistance levels to watch for. He turns to charts then, trying to guess where prices may go next after the long period of sideways trading. Despite the majority of traders seem to be buyers, David decides to close his long position and open a short position due to concerns that various countries across the world reintroduce travel restrictions, and that can drive prices down.

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