Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 66.21 per barrel. At the moment, we should expect an attempt to fall and a test of the support level near the area of $ 64.35 per barrel. Further, the continuation of the growth of oil in the region above the level of 68.15.
BRENT Crude Oil Forecast and analysis February 21, 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 21, 2019 imply an attempt to test the support level near the area of 64.25. Further, the continuation of growth with the goal below 69.60. A test of the support 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 62.75. This will indicate a continuation of the fall in quotations to the area below the level of 59.10.