Brent Crude oil Wave Analysis – 22 November, 2022


• Brent Crude oil reversed from support level 82.00

• Likely to rise to resistance level 91.00

Brent Crude oil recently reversed up from the strong support level 82.00 (which reversed the pair sharply in September), standing below the lower daily Bollinger Band.

The upward reversal from the support level 82.00 started created the daily Hammer, which started the active impulse wave C.

Brent Crude oil can be expected to rise further toward the next resistance level 91.00 (which has been reversing the price from the end of October).

Source: Fxpro

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