Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 71.11 per barrel. At the moment, we should expect an attempt to reduce and test the support level near the area of 70.05 dollars per barrel. Further, the continuation of the growth of the oil rate to the region above the level of 73.55.
BRENT Crude Oil Forecast and analysis April 11, 2019
In favor of the rise of quotations and oil prices BRENT will test the rising trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation options for rising oil prices will fall and the breakdown level of 68.65 dollars per barrel. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in quotations to the area below 65.65. Confirmation of the growth of quotations will be the breakdown of the resistance area and the closing of BRENT prices above the level of 71.45.
BRENT Crude Oil Forecast and analysis April 11, 2019 imply an attempt to test the support level near the 70.05 area. Further, the continuation of growth with a target above the level of 73.55. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. The abolition of the BRENT oil price growth option will be a fall and a breakdown of the level of 68.65. This will indicate a continued decline in quotations to the area below 65.65.
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