Quotes of BRENT continue to move in line with growth. At the time of publication of the forecast, the price of BRENT oil is 76.80 dollars per barrel. At this point, we should expect an attempt to test the upper limit of the bearish channel near the level of 77.40 dollars per barrel. Further, the beginning of the fall of the oil price in the area below the level of 73.35.
BRENT forecast & technical analysis August 29, 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 growth and breakdown at 78.60 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 above the level of 81.00. To expect confirmation of the fall in the price of oil is with the breakdown of the support area and the closing below the level of 75.00.
BRENT forecast & technical analysis August 29, 2018 suggests an attempt to test the resistance level near the area of 77.40 and continue falling with a target below the level of 73.35, the abolition of the variant of reducing the price of BRENT oil will be a strong growth and breakdown at 78.60, which will indicate the continued growth of quotations in the area above the level of 81.00.
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