Quotes of BRENT continue to move within the framework of strong growth. At the time of publication of the forecast, the price of BRENT oil is $ 73.81 per barrel. At the moment, we should expect an attempt to test the upper limit of the bearish channel near the level of $ 72.80 dollars per barrel. Further, the continued growth of the oil price in the region above the level of $ 77.00.
BRENT forecast & technical analysis August 23, 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). Abolishing the variant of oil price growth will be a drop and breakdown of the level of $ 71.90 dollars per barrel, which will indicate the breakdown of the upper border of the channel and the continuation of the decline in quotations to the area below the level of $ 69.50. 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 $ 74.50.
BRENT forecast & technical analysis August 23, 2018 involves an attempt to test the level of support near the $ 72.80 area and continue growth with a target below $ 77.00, the cancellation of the variant of the growth in the price of BRENT oil will be a drop and breakdown of the level of $ 71.90, which will indicate the continued decline in quotations in the area is below the level of 69.50.
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