Quotes of BRENT crude oil close the trading week near the area of 73.82 dollars per barrel. It is worth waiting for an attempt to test the upper boundary of the bullish channel near the level of 74.00 and the beginning of the fall of oil in the area below $ 60.00 per barrel as part of the development of the reversal model «Double Top».
BRENT crude oil forecast April 23 — 27, 2018
An additional signal in favor of falling oil quotes will be a test of the resistance line on the indicator of relative strength index (RSI). The cancellation of the variant of falling quotations and prices for BRENT oil in the current trading week will be a breakdown of the level of 75.50, which will indicate the breakdown of the upper border of the channel and the continuation of oil growth in the area above the level of 80.00. With the breakdown of the ascending trend line and the closing below the level of 67.50, one should expect confirmation of a fall in the price of oil in the current trading week.
BRENT crude oil forecast April 23 — 27, 2018 suggests a resistance test near the level of 74.50, from which one should expect a rebound and an attempt to continue falling oil with a potential target at 60.00, an additional signal in favor of falling oil prices will be a test of the trend line at an indicator of relative strength index (RSI), the cancellation of the fall variant will be a strong growth and breakdown of the region of 75.50.
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