Quotes of BRENT continue to move in growth. At the time of publication of the forecast, the price of BRENT oil is $ 65.49 per barrel. At the moment, we can expect an attempt to grow and test the resistance level near the area of 66.05 dollars per barrel. Further, the continuation of the fall of the oil in the area below 61.50.
BRENT Crude Oil Forecast and analysis February 27, 2019
In favor of the fall in quotations and prices for oil BRENT will test the downward trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 69.25 dollars per barrel. This will indicate a breakdown of the resistance area and continued 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 bullish channel and the closing of the BRENT price below 63.75.
BRENT Crude Oil Forecast and analysis February 27, 2019 imply an attempt to test the resistance level near 66.05. Further, the continuation of the fall with the target below 61.50. 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 69.25. This will indicate continued growth of quotations in the area above the level of 72.55.