Brent crude breaks the key $72 level

Technical Analysis

Author: Adam Button | brent

$72.05 was high in 2019

Brent is the key chart to watch in the energy space. It's climbed to a fresh-post pandemic high at $72.13 and in doing so, it took out the 2019/2020 double top at $72.05. The 2019 high was $75.73 and if we can get a close at these levels, there is nothing stopping a run to there on the technical side -- though Iran negotiations continue to loom.

$72.05 was high in 2019
On the WTI side, it's up $0.93 to a cycle high at $69.75. A touch of $70 would change the conversation in oil, it would also leave Cathie Wood 'surprised'.

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose