Quotes of BRENT continue to move in the framework of strong growth and the rising channel. At the time of the publication of the forecast, the price of BRENT oil is $ 73.80 per barrel. Moving averages indicate a short-term upward trend in oil. At the moment, we should expect an attempt to fall and a test of the support level near the area of 71.85 dollars per barrel. Further, the continuation of the growth of the oil rate to the region above the level of 75.95.
BRENT Crude Oil Forecast and analysis April 24, 2019
BRENT will test the support line on the relative strength index (RSI) in favor of raising prices and BRENT oil prices. 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 70.75 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 the level of 68.55. Confirmation of the rise of quotations will be the breakdown of the resistance area and the closing of BRENT prices above the level of 74.55.
BRENT Crude Oil Forecast and analysis April 24, 2019 imply an attempt to test the support level near the area of 71.85. Further, the continuation of growth with a goal above 75.95. In favor of the rise will make a test trend line on the indicator of relative strength index (RSI). The abolition of the BRENT oil price growth option will be a fall and a breakdown of the level of 70.75. This will indicate a continuation of the fall in quotations to the area below the level of 68.55.
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