BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 64.49 per barrel. Moving averages indicate a short-term upward trend in oil. At the moment, we should expect an attempt to continue the decline and a test of the support level near the area of $ 62.45 per barrel. Further, the continuation of the growth of oil in the region above the level of 71.25.
BRENT Crude Oil Forecast and analysis June 26, 2019
In favor of the growth of quotations and prices for oil BRENT will test the rising trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation options for rising oil prices will fall and the breakdown level of 59.95 dollars per barrel. This will indicate a breakdown of the support area and a continued decline in quotations to the area below the level of 56.45. Confirmation of the growth of quotations will be the breakdown of the resistance area and the closing of BRENT prices above 65.45.
Among the important news that may have an impact on the price of oil, it is worth highlighting: United States Crude Oil Stocks Change EIA.
BRENT Crude Oil Forecast and analysis June 26, 2019 imply an attempt to test the support level near the area of 62.45. Further, the continuation of growth with a goal above the level of 71.25. In favor of growth will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the option of raising the price of oil BRENT will fall and the breakdown level of 59.95. This will indicate a continued decline in quotations to the area below the level of 56.45.
