Quotes of BRENT crude oil close the trading week near the area of 74.11 dollars per barrel. It is worth waiting for an attempt to test the upper limit of the bullish channel near the level of 74.50 and the beginning of the fall of oil in the area below $ 62.00 per barrel as part of the development of the reversal model «Double Top».
BRENT crude oil forecast April 30 — May 4, 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). Canceling the variant of falling quotes and prices for BRENT oil in the current trading week will break through the level of 76.50, which indicates the breakdown of the upper boundary of the channel and the continued growth of oil in the area above the level of 80.00. With the breakdown of the bullish 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 30 — May 4, 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 62.00, an additional signal in favor of falling oil prices will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the fall variant will be a strong growth and breakdown of the area of 76.50.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
