Quotes of BRENT crude oil close the trading week near the area of 69.40 dollars per barrel. It is worth waiting for an attempt to test the lower border of the channel near the level of 66.50 and the continuation of growth in the area above $ 75.00 per barrel.
BRENT crude oil forecast on January 15 — 19, 2018
An additional signal for the growth of oil quotes will be a test of the support line on the indicator of relative strength index (RSI). The cancellation of the variant of growth of quotations and prices for BRENT oil in the current trading week will trigger a breakdown of the level of support and a closing below 63.50, which will indicate the outflow of quotes outside the channel and the continuation of the fall of oil into the area below the level of 57.
BRENT crude oil forecast on January 15 — 19, 2018 suggests an attempt to test the lower border of the channel near the level of 66.50, from which one should expect a rebound and an attempt to continue oil growth with a potential target at 73.50, an additional signal in favor of an oil price rise will be a test line support on the indicator of relative strength index (RSI), cancellation of the growth option will fall and breakdown of the support area 63.50.