Quotes of BRENT continue to move in line with growth. At the time of publication of the forecast, the price of BRENT oil is 77.63 dollars per barrel. At the moment, we should expect an attempt to test the upper border of the channel near the level of $ 78.30 per barrel. Further, the beginning of the fall of the oil price in the area below the level of 75.25.
BRENT forecast & technical analysis August 31, 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 79.50 dollars per barrel, which will indicate the breakdown of the upper boundary of the descending channel and the continuation of the growth of quotations in the area above the level of 82.00. 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 76.50.
BRENT forecast & technical analysis August 31, 2018 presupposes an attempt to test the resistance level near the area of 78.30 and continue falling with a target below 75.25, the abolition of the variant of reducing the price of BRENT oil will be a strong growth and breakdown of the level of 79.50, which will indicate the continued growth of quotations in the area above the level of 82.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
