Quotes of BRENT continue to move as part of a decline. At the time of the publication of the forecast, the price of BRENT oil is $ 59.76 per barrel. At the moment, we should expect an attempt to fall and a test of the support level near the area of $ 56.55 per barrel. Further, the continuation of the growth rate of oil in the area above 69.60.
BRENT Crude Oil Forecast and analysis January 15, 2019
In favor of the growth of quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). As well as the formation of an inverted model of «Head and Shoulders». Cancellation options for rising oil prices will fall and the breakdown level of 53.05 dollars per barrel. This will indicate a breakdown of the support area and the continuation of the fall in quotations to the area below the level of 48.05. Confirmation of growth of quotations will be the breakdown of the area of resistance and the closing of prices on BRENT above the level of 62.70.
BRENT Crude Oil Forecast and analysis January 15, 2019 imply an attempt to test the support level near the 56.55 area. Further, the continuation of growth with a target above 69.60. Cancellation of the growth rate of oil prices BRENT will fall and the breakdown level of 53.05. This will indicate a continued decline in quotations to the area below the level of 48.05.