Quotes of BRENT crude oil continue to move within the bullish channel. At this point, we should expect a test of the support level near the area of 67.10 dollars per barrel. Further, the continued growth of oil in the area above the level of 72.00.
BRENT forecast & technical analysis April 10, 2018
In favor of the growth of quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). Abolition of the variant of oil price growth will be a drop and a breakdown of 66.00 dollars per barrel, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of quotations below the level of 63.50. To expect confirmation of the growth in the price of oil is with the breakdown of the resistance area and the closure below the level of 69.00.
BRENT forecast & technical analysis April 10, 2018 suggests an attempt to test the level of support near the 67.10 area and continue the growth with a target above the level of 72.00, the abolition of the variant of the growth of the price of BRENT oil will be a drop and breakdown at 66.00, which will indicate the continued fall in quotations in the area below the level of 63.50.