Brent Crude Oil Increasing
Source: VantagePoint Intermarket Analysis Software
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- The market increased by 711 ticks.
- 711 ticks = 7,110 USD per contract (About 12 trading days)
- When the blue line (forecast) crossed above the black line (actual), VantagePoint predicted the market to trend up. The Neural Index at 1.00 also indicated an expected up trend.
- Two thirds of the world’s traded oil is referenced from the price of brent crude oil.
- Brent crude oil is sourced from the North Sea and is usually refined in northwest Europe.
