BRENT forecast & technical analysis April 27, 2018


Quotes of BRENT continue to move within the correction. At this point, we should expect a test of resistance level near the area of ​​$ 75.00 per barrel. Further, the continuation of the fall of oil in the area below the level of 70.00.

BRENT forecast & technical analysis April 27, 2018

In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». The abolition of the fall in oil prices will be a strong growth and a breakdown of the level of $ 76.30 per barrel, which will indicate the breakdown of the upper boundary of the «Wedge» model and the continuation of the growth of quotations in the area above the level of 77.50. To expect confirmation of the fall in the price of oil is with the breakdown of the support area and the closing below the level of 72.50.

BRENT forecast & technical analysis April 27, 2018

BRENT forecast & technical analysis April 27, 2018 suggests an attempt to test the resistance level near the area of ​​75.00 and continue falling with the target below 70.05, the abolition of the variant of the drop in the price of BRENT oil will be a strong growth and breakdown at the level of 76.30, which will indicate the continued growth of quotations in the area above the level of 77.50.


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