GLOBAL EQUITY MARKETS – February 18, 2017
Energy prices are due for a strong directional movement after volatility reached extreme low levels. 2 month-long tight consolidation should end soon, possibly resulting in a sharp price movement. After breaking above 51.95 resistance, Brent Crude Oil entered in to a short-term sideways consolidation. Last 2 month's price action remained range bound between 52.50 and 56.10. Breakout above 56.10 will add further momentum to Brent Crude oil prices that are already in a uptrend for the past year.
BRENT CRUDE OIL - WEEKLY SCALE
