Brent crude oil completes the formation of the abc zigzag within the wave [2], which is included in the structure of the long-term wave V, which is formed along the structure of the final diagonal.
On the weekly chart, Brent is heavily overbought, with a resistance level of $ 59 / bbl, which is 76.4% Fibonacci from the fall since August 2019.
If the price rises above $ 70 per barrel, then an inflationary scenario with a long-term growth in the direction of $ 140- $ 150 per barrel will be realized.
details at vadimsysoev.livejournal.com
