BRENT continue to move as part of the correction. At the time of publication of the forecast, the price of BRENT oil is $ 62.48 per barrel. Moving averages indicate a short-term bearish trend in oil. At the moment, we should expect an attempt to continue the correction and test the resistance level near the area of 63.95 dollars per barrel. Further, the continuation of the fall of the oil in the area below 55.05.
BRENT Crude Oil Forecast and analysis June 14, 2019
In favor of the fall in quotations and prices for oil BRENT will test a downward trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the resistance area. Cancellation of the option to reduce oil prices will be a strong increase and the breakdown level of 66.95 dollars per barrel. This will indicate a breakdown of the resistance area and continued growth of quotations in the area above the level of 69.85. Confirmation of the fall in quotations will be the breakdown of the support area and the closing of BRENT prices below the level of 58.55.
BRENT Crude Oil Forecast and analysis June 14, 2019 imply an attempt to test the resistance level near 63.95. Further, the continuation of the fall with the target below 55.05. The trend line test on the relative strength index (RSI) will be in favor of the decline. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 66.95. This will indicate a continuation of the rise of quotations in the area above the level of 69.85.
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