Quotes of BRENT continue to move in line with growth. At the moment, we should expect an attempt to test the lower boundary of the bullish channel near the area of $ 70.00 per barrel. Further, the continued growth of oil in the area above the level of 74.10.
BRENT forecast & technical analysis April 17, 2018
In favor of the growth of quotations and prices for oil BRENT will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the variant of oil price growth will be a drop and breakdown of the level of 68.50 dollars per barrel, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of quotations below the level of 63.50. To expect confirmation of the growth of the price of oil is with the breakdown of the resistance area and the closing above the level of 74.00.
BRENT forecast & technical analysis April 17, 2018 suggests an attempt to test the lower border of the channel near the area of 70.00 and continue growth with a target above 74.10, the abolition of the variant of the growth of the price of BRENT oil will be a drop and a breakdown of the level of 68.50, which will indicate the continued drop in quotations in the area below the level of 63.50.