BRENT crude oil forecast May 14 — 18, 2018


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Quotes of BRENT crude oil close the trading week near the area of ​​77.45 dollars per barrel. It is worth waiting for an attempt to test the upper boundary of the bullish channel near the level of 79.50 and the beginning of the fall of oil in the area below 72.00 dollars per barrel.

BRENT crude oil forecast May 14 — 18, 2018

An additional signal in favor of falling oil quotes in the current trading week will be a test of the resistance line on the indicator of relative strength index (RSI). Canceling the variant of falling quotations and prices for BRENT oil in the current trading week will break through the level of 80.50, indicating a 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 71.00, one should expect confirmation of a fall in the price of oil in the current trading week.

BRENT crude oil forecast May 14 — 18, 2018

BRENT crude oil forecast May 14 — 18, 2018 suggests a resistance test near the 79.50 level, from which one should expect a rebound and an attempt to continue the fall of oil with a potential target at 72.00, an additional signal in favor of the oil price drop will be a trend line test on an indicator of relative strength index (RSI), the cancellation of the fall variant will be a strong growth and breakdown of the area of ​​79.50.

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