Brent Crude Oil forecast. What happened during Ukraine’s invasion?
22 Aug 2022
Brent Crude Oil forecast. What happened during Ukraine’s invasion? You may be wondering why Brent Crude Oil and Light Crude Oil futures #CL did during Ukraine’s invasion and the war started by Russia. Every financial institution and media talked about the repercussions of such an attack on oil and gas prices. What happened to Brent Crude Oil and Light Crude Oil futures before the war started in February 2022? Price action and supply and demand can tell a lot about oil prices. At the beginning of this year, before Ukraine’s invasion, both Light crude oil prices and Brent crude oil prices reached very strong supply imbalances on the monthly timeframe, located at around $127. During the conflict (unfortunately, Ukraine’s war is still ongoing), oil prices dropped more than 30% instead of rallying and breaking historical highs as everyone predicted.
Light Crude Oil and Brent Oil prices today
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
Join our supply and demand online trading academy If you want to learn how to trade using our supply and demand trading strategy.
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