Quotes of BRENT crude oil close the trading week near the area of $ 64.25 per barrel. It is worth waiting for an attempt to test the resistance area near the level of 65.50 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 March 5 — 9, 2018
The cancellation of the variant of falling quotes and prices for BRENT oil in the current trading week will break through the level of $ 71.00, which will indicate the continued growth of oil in the area above the level of $ 75.00. With the breakdown of the support area and the closing below the level of $ 60.00, it is expected to accelerate the fall in oil prices as part of the development of the «Head and Shoulders» reversal model.
BRENT crude oil forecast on March 5 — 9, 2018 suggests a resistance test near the level of $ 65.50, 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 falling oil prices 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 support area of $ 72.00.
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