Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 58.31 per barrel. At the moment, we should expect an attempt to fall and a test of the support level near the area of 57.05 dollars per barrel. Further, the continuation of the growth of oil in the region above the level of 66.00.
BRENT forecast & technical analysis January 8, 2019
In favor of the growth of quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). As well as a rebound from the upper limit of the descending channel. Cancellation options for rising oil prices will fall and the breakdown level of 53.65 dollars per barrel. This will indicate a breakdown of the upper boundary of the channel and the continuation of the fall in quotations to the area below the level of 48.05. Confirmation of the growth of quotations will be the breakdown of the area of resistance and the closing of prices on BRENT above the level of 60.00.
BRENT forecast & technical analysis January 8, 2019 imply an attempt to test the support level near the 57.05 area. Further, the continuation of growth with a goal above 66.00. Cancellation of the growth rate of oil prices BRENT will fall and the breakdown level of 48.05. This will indicate a continued decline in quotes to the area below the level of 62.25.