Quotes of BRENT crude oil continue to move in line with the decline. At this point, we should expect an attempt to test the upper boundary of the channel near the 66.00 area. Then continue the fall in the area below the level of 60.80. In favor of falling quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI).
BRENT forecast & technical analysis February 13, 2018
The abolition of the fall in oil prices will be a strong increase and a breakdown of the level of 67.40 dollars per barrel, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations above the level of 70.50. To expect confirmation of the fall in the price of oil is with the breakdown of the support level and the closing of quotations below the area of 62.00.
BRENT forecast & technical analysis February 13, 2018 involves an attempt to test the level of 66.00 and continue falling with a target below the level of 60.85, the abolition of the variant of the drop in the price of BRENT oil will be a breakthrough of the level of 67.40, which will indicate the continued growth of quotations to the area above the level of 70.50.
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