Brent continue to move in an upward correction. At the time of the publication of the forecast, the price of BRENT oil is $ 64.90 per barrel. Moving averages indicate a short-term downward trend in oil. At the moment, we should expect an attempt to rise and test the resistance level near the area of $ 65.25 per barrel. Further, the continuation of the fall in the rate of oil in the area below the level of 59.55.
BRENT Crude Oil Forecast and analysis August 1, 2019
In favor of reducing the quotations and prices of oil BRENT will test the resistance line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 65.95 dollars per barrel. This will indicate a breakdown of the resistance area and continued growth of quotations in the area above the level of 67.75. Confirmation of a decrease in quotations will be the breakdown of the support area and the closing of BRENT prices below the level of 62.25.
BRENT Crude Oil Forecast and analysis August 1, 2019 imply an attempt to test the resistance level near the 65.25 area. Further, the continuation of the decline with the goal below 59.55. In favor of growth will make a test trend line on the indicator of relative strength. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 65.95. This will indicate a continuation of the rise of quotations in the area above the level of 67.75.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
