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Video: Brent Oil Price Analysis May 2020 – Is the Worst Over?

May 8, 2020 at 12:37 by Vladimir Vyun

In the present video, David Jones from provides his forecast for crude oil in May 2020. He starts the video by discussing factors that allowed crude to recover after the historic slump in the previous month. Next, David shows important price levels. He shows charts of the commodity afterward, speculating where prices may go next. In the end, David decides to risk placing an order to open a short position in case prices will go higher. While currently, oil is clearly in an uptrend, it is unclear in what shape the world economy will be after it emerges from the lockdown after the coronavirus pandemic subsides. Such uncertainty can easily drive oil prices lower, especially as the storage capacity remains a concern.

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