BRENT crude oil forecast & analysis August 6 — 10, 2018


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Quotes of BRENT crude oil lose the trading week near the area of ​​73.22 dollars per barrel. It is worth waiting for an attempt to test the bottom of the channel near the level of 75.50 and the beginning of the fall of oil in the area below the level of 63.50 dollars per barrel.

BRENT crude oil forecast & analysis August 6 — 10, 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 variant of falling quotes and prices for BRENT oil in the current trading week on August 6 — 10, 2018 will break through the level of 79.50, which will indicate the breakdown of the resistance area and the continued growth of oil in the area above the level of 85.00. 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 6 — 10, 2018

BRENT crude oil forecast & analysis August 6 — 10, 2018 suggests a resistance test near the level of 75.50, from which one should expect a rebound and an attempt to drop oil with a potential target at the level of 63.50, 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 abolition of the fall option will be a strong growth and breakdown of the area of ​​79.50, indicating that the breakdown of the resistance area and the continuation of growth.

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