Quotes of BRENT close the trading week near the region of 71.63 dollars per barrel. It is worth to wait for the test of the resistance area near the level of 74.20 and the beginning of the fall of oil in the area below the level of 64.00 dollars per barrel.
BRENT crude oil forecast & analysis August 20 — 24, 2018
An additional signal in favor of falling oil prices this week will be a test of the resistance line on the indicator of relative strength index (RSI). Canceling the option of lowering quotations and prices for BRENT oil in the week August 20 — 24, 2018 will break through the level of 75.50, which will indicate the breakdown of the resistance area and the continued growth of oil in the area above the level of 81.00. With the breakdown of the support area and the closing below the level of 69.50, one should expect a confirmation of a decrease in the price of BRENT oil in the current trading week.
BRENT crude oil forecast & analysis August 20 — 24, 2018 suggests a resistance test near the level of 74.20, from which one should expect a rebound and an attempt to drop oil with a potential target at 64.00, an additional signal in favor of falling oil prices will be a test of the trend line on the indicator relative strength index (RSI), the cancellation of the fall option will be a strong growth and breakdown of the region of 75.50, which will indicate the breakdown of the resistance area and the continuation of growth.
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