Quotes of BRENT continue to move within the framework of a bullish correction. At the time of publication of the forecast, the price of BRENT oil is 77.79 dollars per barrel. At the moment, we should expect a test of the support area near the level of 77.20 dollars per barrel. Further, the continued growth of oil in the area above the level of 81.00.
BRENT forecast & technical analysis July 10, 2018
In favor of the growth of quotations and prices for oil BRENT will perform a test of a broken trend line on the indicator of relative strength index (RSI). Abolition of the variant of oil price growth will be a drop and breakdown of the level of 76.00 dollars per barrel, which will indicate the breakdown of the support area and the continuation of falling quotations in the area below the level of 72.00. To expect confirmation of the growth in the price of oil is with the breakdown of the resistance area and the closing above the level of 78.70.
BRENT forecast & technical analysis July 10, 2018 suggests an attempt to test the level of support near the area of 77.20 and continue growth with a target above 81.00, the abolition of the variant of the growth in the price of BRENT oil will be a drop and breakdown of the level of 76.00, which will indicate the continued fall in quotations in the area is below the level of 72.00.
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