Quotes of BRENT crude oil continue to move within the bullish channel. At the moment, we should expect an attempt to test the lower boundary of the bullish channel near the area of 68.00. Then continue the growth in the area above the level of 73.00.
BRENT forecast & technical analysis March 30, 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 the level of 66.50 dollars per barrel, which will indicate the breakdown of the lower border of the rising channel and the continuation of the decline of quotations below the level of 65.00. 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 March 30, 2018 suggests an attempt to test the lower border of the channel near the area of 68.00 and continue growth with the target above 73.00 level, the abolition of the variant of the price increase of BRENT oil will be a breakdown at level 66.50, which will indicate the continued fall in quotations to the region below the level of 65.00.