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 $ 68.00 per barrel. Then continue the growth in the area above the level of 72.30.
BRENT forecast & technical analysis April 4, 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 at the level of $ 65.50 per barrel, which will indicate the breakdown of the lower boundary of the bullish channel and the continuation of the decline of quotations below 62.00. To expect confirmation of the growth in the price of oil is with the breakdown of the resistance area and the closing above the level of 71.00.
BRENT forecast & technical analysis April 4, 2018 suggests an attempt to test the level of support near the area of 68.00 and continue growth with the target above 72.30, the abolition of the variant of the growth of the price of BRENT oil will be a breakdown at the level of 65.50, which will indicate the continued fall in quotations to the area below level 62.00.