Quotes of BRENT crude oil close the trading week near the area of $ 76.68 per barrel. It is worth to wait for the test of the resistance area near the level of 78.00 and the beginning of the fall of oil in the area below $ 65.00 per barrel.
BRENT crude oil forecast June 4 — 8, 2018
An additional signal in favor of falling oil quotes in the current trading week will be a test of a broken trend line on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The cancellation of the variant of falling quotes and prices for BRENT oil in the current trading week will break through the level of 81.00, which will indicate the breakdown of the upper boundary of the channel and the continuation of oil growth in the region above the level of 85.00. With breakdown of the lower border of the channel and closing below the level of 72.50, one should expect confirmation of a fall in the price of oil in the current trading week.
BRENT crude oil forecast June 4 — 8, 2018 suggests a resistance test near the level of 78.00, from which one should expect a rebound and an attempt to continue falling oil with a potential target at 65.00, 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 a strong growth and breakdown of the area of 81.00.
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