BRENT crude oil forecast & analysis September 17 — 21, 2018


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Quotes of BRENT close the trading week near the area of ​​78.15 dollars per barrel and continue to move within the formation of the reversal model «Double Top». As part of the publication of the BRENT crude oil forecast & analysis September 17 — 21, 2018, we should expect an attempt to test the resistance area near the level of 79.90 and the beginning of the fall of oil in the area below the level of 71.50 dollars per barrel.

BRENT crude oil forecast & analysis September 17 — 21, 2018

An additional signal in favor of lower oil quotations 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 current trading week on September 17 — 21, 2018, there will be strong growth and breakdown at 82.00 level, which will indicate the breakdown of the resistance area and the continued growth of oil in the region above the level of 84.50. With the breakdown of the support area and the closing below the level of 76.50, one should expect a confirmation of a drop in the price of BRENT oil in the current trading week.

BRENT crude oil forecast & analysis September 17 — 21, 2018

BRENT crude oil forecast & analysis September 17 — 21, 2018 suggests an attempt to test the resistance area near the level of 79.90, from which one should expect a rebound and an attempt to drop oil with a potential target at the level of 71.50, an additional signal in favor of the oil price decline will be a test of the trend line at an indicator of relative strength index (RSI), the cancellation of the fall variant will be a strong growth and breakdown of the area of ​​82.00, which will indicate the breakdown of the resistance area and the continuation of growth and the cancellation of the reversal model.


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