Quotes of BRENT crude oil close the trading week near the area of 63.42 dollars per barrel. It is worth waiting for an attempt to test the resistance area near the level of 65.00 and the continuation of the fall of oil in the area below $ 57.50 per barrel. 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).
BRENT crude oil forecast on February 12 — 16, 2018
The cancellation of the variant of falling quotations and prices for BRENT oil in the current trading week will break down at the level of 69.00, which will indicate the continued growth of oil in the area above the level of 72.00. With breakdown of the lower border of the channel and closing below the level of 54.00, it is expected to accelerate the fall in the price of oil.
BRENT crude oil forecast on February 12 — 16, 2018 suggests a resistance test near the level of 65.00, from which one should expect a rebound and an attempt to continue falling oil with a potential target at the level of 57.50, an additional signal in favor of a fall in the oil price will be a test of the trend line at indicator of relative strength index (RSI), the cancellation of the fall option will be strong growth and breakdown of the support area of 69.00.