Brent Crude held a continuous rally from $74/bbl to $85/bbl over the month of July. Economists at Rabobank analyze Oil outlook. Brent will trade betwe
We witnessed heavy resistance this week at the $88/bbl mark again, and we see the current macro overhang and worsening Chinese economic data to keep this ceiling intact. However, if we are incorrect, we see that crude will continue to consolidate at a higher range with the next resistance levels at $93/bbl and $98/bbl.
We reiterate our call that Brent will trade between $72/bbl and $88/bbl until Q4, when prices are likely to rise and average $90/bbl.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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