BRENT crude oil forecast May 28 — June 1, 2018


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Quotes of BRENT crude oil close the trading week near the area of $ 78.04 per barrel. It is worth waiting for an attempt to test the upper boundary of the bullish channel near the level of 80.50 and the beginning of the fall of oil in the area below $ 71.50 per barrel.

BRENT crude oil forecast May 28 — June 1, 2018

An additional signal in favor of falling oil quotations in the current trading week will be a test of a broken trend line on the indicator of relative strength index (RSI). The cancellation of the variant of falling quotes and prices for BRENT oil in the current trading week will be a breakdown of the level of $ 83.50, which will indicate the breakdown of the upper border of the channel and the continuation of oil growth in the area above the level of $ 87.00. With breakdown of the lower border of the channel and closing below the level of $ 75.00, one should expect confirmation of a fall in the price of oil in the current trading week.

BRENT crude oil forecast May 28 — June 1, 2018

BRENT crude oil forecast May 28 — June 1, 2018 suggests a resistance test near the level of $ 80.50, from which one should expect a rebound and an attempt to continue falling oil with a potential target at $ 71.50, an additional signal in favor of falling oil prices will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the fall variant will be a strong growth and breakdown of the region of $ 83.50.

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