BRENT Crude Oil Forecast and analysis February 20, 2019


Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 66.29 per barrel. At the moment, we should expect an attempt to fall and a test of the support level near the area of ​​$ 64.25 per barrel. Further, the continuation of the growth of the oil rate to the region above the 69.60 level.

BRENT Crude Oil Forecast and analysis February 20, 2019

In favor of the rise of quotations and oil prices BRENT will make a test line support on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the rising channel. Cancellation options for rising oil prices will fall and the breakdown level of 62.75 dollars per barrel. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the fall in quotations to the area below the level of 59.10. Confirmation of the growth of quotations will be the breakdown of the resistance area and the closing of BRENT prices above the level of 67.25.

BRENT Crude Oil Forecast and analysis February 20, 2019

BRENT Crude Oil Forecast and analysis February 20, 2019 imply an attempt to test the resistance level near the area of ​​64.25. Further, the continuation of the fall with a target below 69.60. In favor of the fall will make a test line resistance. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 62.75. This will indicate continued growth of quotations in the area above the level of 59.10.


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