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 67.49 dollars per barrel. Moving averages indicate a short-term downward trend in oil. At the moment, we should expect an attempt to rise and test the resistance level near the area of 69.95 dollars per barrel. Further, the continuation of the fall of the oil in the area below 63.05.
BRENT Crude Oil Forecast and analysis May 28, 2019
In favor of the fall in quotations and prices for oil BRENT will perform a test of the broken trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option to reduce oil prices will be a strong increase and the breakdown level of 71.95 dollars per barrel. This will indicate a breakdown of the resistance area and continued growth of quotations in the area above the level of 73.95. Confirmation of a fall in quotations will be a breakdown of the support area and closing prices for BRENT below 64.75.
BRENT Crude Oil Forecast and analysis May 28, 2019 imply an attempt to test the resistance level near 69.95. Further, the continuation of the fall with a target below the level of 63.05. 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 71.95. This will indicate a continuation of the rise of quotations to the area above the level of 73.95.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
