Quotes of BRENT crude oil continue to move within the bearish channel. At this point, we should expect an attempt to test the upper border of the channel near the area of 65.60. Further continuation of the fall into the area below the level of 59.90. 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 20, 2018
The abolition of the fall in oil prices will be a strong growth and a breakdown at 66.45 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 68.50. To expect confirmation of the fall in the price of oil is with the breakdown of the support area and the closing of quotations below the area of 62.00.
BRENT forecast & technical analysis February 20, 2018 suggests an attempt to test the upper boundary of the downlink near the level of 65.60 and continue falling with a target below the level of 59.90, the abolition of the variant of the drop in the price of BRENT oil will be a breakdown at level 66.45, which will indicate the continued growth of quotations in area above the level of 68.50.
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