Quotes of BRENT crude oil continue to move in line with growth. At the moment, we should expect an attempt to test the upper limit of the rising channel near the region of $ 73.50 per barrel. Further, the continuation of the fall of oil to the lower boundary of the channel at the level of 69.00.
BRENT forecast & technical analysis April 12, 2018
In favor of falling quotes and oil prices BRENT will test the resistance area on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong growth and a breakdown at 74.75 dollars per barrel, which indicates the breakdown of the upper border of the channel and the continuation of the growth of quotations 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 closure below the level of 72.00.
BRENT forecast & technical analysis April 12, 2018 suggests an attempt to test the upper border of the channel near the area of 69.70 and continue falling with the target below the level of 69.00, the abolition of the variant of the drop in the price of BRENT oil will be a strong growth and breakdown at 74.75, which will indicate the continued growth quotations in the area above the level of 77.50.