Quotes of BRENT continue to move in the ascending channel. At the time of publication of the forecast, the price of BRENT oil is $ 67.48 per barrel. At the moment, we can expect an attempt to grow and test the resistance level near the area of 68.90 dollars per barrel. Further, the continuation of the fall of the oil in the area below 57.30.
BRENT Crude Oil Forecast and analysis March 15, 2019
In favor of the fall in quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the rising channel. Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 72.55 dollars per barrel. This will indicate a breakdown of the resistance area and the continuation of the growth of quotations in the area above 75.65. Confirmation of the decline in quotations will be the breakdown of the lower boundary of the rising channel and the closing of the BRENT price below 64.95.
BRENT Crude Oil Forecast and analysis March 15, 2019 imply an attempt to test the resistance level near the area of 68.90. Further, the continuation of the fall with the goal below the level of 68.90. 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 72.55. This will indicate continued growth of quotations in the area above 75.65.