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 $ 74.45 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 72.75 dollars per barrel. Further, the continuation of the growth rate of oil in the region above the level of 76.35.
BRENT Crude Oil Forecast and analysis April 26, 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 71.75 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 68.75. Confirmation of the rise of quotations will be the breakdown of the resistance area and the closing of the BRENT price above 75.75.
BRENT Crude Oil Forecast and analysis April 26, 2019 imply an attempt to test the support level near the area of 72.75. Further, the continuation of growth with the goal above the level of 76.35. In favor of the rise will make a test trend line on the indicator of relative strength. The abolition of the BRENT oil price growth option will be a fall and a breakdown of the level of 71.75. This will indicate a continuation of the fall in quotations to the area below the level of 68.75.
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