BRENT crude oil forecast July 9 — 13, 2018


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Quotes of BRENT crude oil close the trading week near the area of ​​76.99 dollars per barrel. It is worth waiting for the test of the support area test near the level of 75.00 and the beginning of oil growth in the region above the level of 85.00 dollars per barrel.

BRENT crude oil forecast July 9 — 13, 2018

An additional signal for the growth of oil quotes in the current trading week 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 break through the level of 72.00, which will indicate the breakdown of the support area and the continuation of the fall of oil in the area below the level of 63.00. With the breakdown of the upper limit of the «Triangle» model and the closing above the level of 79.50, one should expect confirmation of the growth of the oil price in the current trading week.

BRENT crude oil forecast July 9 — 13, 2018

BRENT crude oil forecast July 9 — 13, 2018 suggests a test of support near the level of 75.00, from which one should expect a rebound and an attempt to increase oil with a potential target at 85.00, an additional signal in favor of an oil price rise will be a test of the support line on the indicator relative strength index (RSI), cancellation of the growth option will fall and breakdown of the area of ​​72.00.

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