Crude Oil Price Outlook – Crude Continues to Build a Floor

Brent Technical Analysis

Brent markets look very much the same. I think we’ve got a situation where traders are trying to sort out what to do next, but all things being equal, I think the 50 day EMA being broken to the upside could be a big sign that we are going to go higher. And in that environment, I would almost certainly look to get long. Short-term pullbacks, I think are also buying opportunities here, but I also recognize that things will be very noisy, and therefore, you are going to have to be somewhat careful with your position sizing in this type of scenario.

Again, I think we are in the midst of trying to bottom in the Brent market as well, and if economic movement starts to pick up, especially with tariffs being perhaps at the back of people’s minds instead of the forefront, I do think Brent has a good shot at rallying here.

For a look at all of today’s economic events, check out our economic calendar.