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 $ 74.51 per barrel. At this point, we should expect an attempt to test the upper limit of the bearish channel near the level of 73.10 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 24, 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). Abolition of the variant of oil price growth will be a drop and breakdown of the level of 72.00 dollars per barrel, which will indicate the breakdown of the upper border of the channel and the continuation of the decline in quotations in the area below the level of 69.50. To expect confirmation of the growth in the price of oil is with the breakdown of the resistance area and the closing above the level of 75.50.
BRENT forecast & technical analysis August 24, 2018 involves an attempt to test the level of support near the area of 73.10 and continue growth with the target above the level of 77.00, the abolition of the variant of the growth in the price of BRENT oil will be a drop and breakdown at 72.00, which will indicate the continued decline in quotes in the area is below the level of 69.50.
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