Quotes of BRENT crude oil continue to move in line with growth. At this point, we should expect an attempt to test the upper boundary of the channel near the level of 67.50. Then continue the growth in the area above the level of 70.50.
BRENT forecast & technical analysis January 9, 2018
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). Abolishing the variant of oil price growth will be a drop and breakdown of the level of 67.00 dollars per barrel, which will indicate the breakdown of the border of the channel and the continuation of the fall of oil.
BRENT forecast & technical analysis January 9, 2018 suggests an attempt to test the upper border of the channel near the level of 67.50, from which we should expect a rebound and an increase in the price of oil with a target above the level of 70.50, the abolition of the growth of the price of BRENT oil will be a breakdown at 67.00, which will indicate on the continuation of the fall in quotations.