BRENT forecast & technical analysis January 4, 2019


Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 55.71 per barrel. At the moment, we can expect an attempt to grow and test the resistance level near the area of ​​56.35 dollars per barrel. Further, the continuation of the fall of the oil in the area below the level of 47.65.

BRENT forecast & technical analysis January 4, 2019

BRENT will test the trend line on the relative strength index (RSI) in favor of lowering quotes and oil prices. As well as a rebound from the upper limit of the bearish channel. Cancellation of the option to reduce oil prices will be a strong increase and the breakdown level of 57.95 dollars per barrel. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of quotations in the area above the level of 62.25. Confirmation of a decrease in quotations will be the breakdown of the support area and the closing of BRENT prices below the level of 52.00.

BRENT forecast & technical analysis January 4, 2019

BRENT forecast & technical analysis January 4, 2019 involves an attempt to test the resistance level near the area of ​​56.35. Further, the continuation of the fall with the target below the level of 47.65. Cancellation of the option to reduce the price of oil BRENT will be a strong growth and the breakdown level of 57.95. This will indicate a continuation of the rise of quotations to the area above the level of 62.25.


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