Quotes of BRENT continue to move in line with growth. At this point, we should expect a test of the support level near the area of 71.40 dollars per barrel. Further, the continued growth of oil in the area above the level of 74.40.
BRENT forecast & technical analysis April 19, 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 9RSI). Abolition of the variant of oil price growth will be a drop and breakdown of the level of 69.00 dollars per barrel, which will indicate the breakdown of the lower boundary of the rising channel and the continuation of the fall of quotations in the area below the level of 67.00. To expect confirmation of the growth in the price of oil stands with the breakdown of the resistance area and the closing above the level of 72.90.
BRENT forecast & technical analysis April 19, 2018 assumes an attempt to test the support level near the 71.40 area and continue the growth with a target above 74.40, the abolition of the variant of the price increase of BRENT oil will be a fall and a breakdown of the level of 69.00, which will indicate the continued fall in quotations in the area below the level of 67.00.
