Quotes of BRENT continue to move in line with growth. At this point, we should expect an attempt to test the resistance level near the area of 74.50 dollars per barrel. Further, the continued fall of oil in the area below the level of 70.20.
BRENT forecast & technical analysis April 20, 2018
In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong increase and a breakdown of the level of $ 75.50 per barrel, which will indicate the breakdown of the upper boundary of the rising channel and the continuation of the growth of quotations in the area above the level of 78.00. To expect confirmation of the fall in the price of oil is with the breakdown of the lower boundary of the «Wedge» and the closing below the level of 72.00.
BRENT forecast & technical analysis April 20, 2018 suggests an attempt to test the resistance level near the 74.50 area and continue falling with a target below 70.20, the abolition of the variant of the drop in the price of BRENT oil will be a strong growth and a breakdown of the level of 75.50, which will indicate the continued growth of quotations in the area above the level of 78.00.
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