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 24 — 28, 2018, we should expect an attempt to test the resistance area near the level of 81.00 and the beginning of the fall of oil in the area below the level of 72.50 dollars per barrel.
BRENT crude oil forecast & analysis September 24 — 28, 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 24 — 28, 2018, there will be strong growth and breakdown at level 82.50, 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 24 — 28, 2018 suggests an attempt to test the resistance area near the level of 81.00, from which one should expect a rebound and an attempt to drop oil with a potential target at 72.50, 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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