Quotes of BRENT close the trading week near the area of 77.57 dollars per barrel. As part of the publication of the BRENT crude oil forecast & analysis September 3 — 7, 2018, we should expect an attempt to test the resistance area near the level of 78.50 and the beginning of the fall of oil in the area below the level of 69.50 dollars per barrel.
BRENT crude oil forecast & analysis September 3 — 7, 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 3 — 7, 2018, there will be a strong growth and a breakdown of the level of 80.50, which will indicate the breakdown of the resistance area and the continuation of oil growth in the region above the level of 83.50. With the breakdown of the support area and the closing below the level of 75.50, one should expect confirmation of a drop in the price of BRENT oil in the current trading week.
BRENT crude oil forecast & analysis September 3 — 7, 2018 suggests an attempt to test the resistance area near the level of 78.50, from which one should expect a rebound and an attempt to drop oil with a potential target at 82.50, 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 abolition of the variant of the fall will be a strong growth and breakdown of the region of 80.50, which will indicate the breakdown of the resistance area and the continuation of growth.
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