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Video: Brent Oil Price Analysis for June 2020 – Oil Price Up Too High, Too Soon?

June 18, 2020 at 15:08 by Vladimir Vyun

In the present video, David Jones from Capital.com provides his forecast for crude oil in June 2020, speculating whether prices have rallied too much and a correction is in order. He starts the video by talking about the recent performance of Brent and the factors behind it as well as factors that will be affecting the commodity in the near future. Next, he lists important support and resistance levels. David then shows charts, both short-term and long-term, and technical indicators, using them to try and predict where prices can go next. In the end, he decides to risk buying the commodity, arguing that the uptrend seems to remain intact. With that said, David wrote in the comment section that it was unfortunate timing for trade as prices have broken down shortly afterward.

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