BRENT Crude Oil Forecast and analysis February 22, 2019


Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 67.16 per barrel. At the moment, we can expect an attempt to grow and test the resistance level near the area of ​​67.85 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 57.70.

BRENT Crude Oil Forecast and analysis February 22, 2019

In favor of the fall in quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI). As well as a rebound from the upper boundary of the bullish channel. Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 69.75 dollars per barrel. This will indicate a breakdown of the upper boundary of the ascending channel and the continuation of the growth of quotations to the area above the level of 72.55. Confirmation of the decline in quotations will be the breakdown of the lower boundary of the rising channel and the closing of the BRENT prices below 61.50.

BRENT Crude Oil Forecast and analysis February 22, 2019

BRENT Crude Oil Forecast and analysis February 22, 2019 imply an attempt to test the resistance level near 67.85. Further, the continuation of the fall with the target below the level of 57.70. The test of the resistance line on the relative strength index (RSI) will be in favor of the fall. Cancellation of the option to reduce the price of oil BRENT will be a strong growth and the breakdown level of 69.75. This will indicate continued growth of quotations in the area above the level of 72.55.


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