Quotes of BRENT continue to move in the framework of the decline and formation of the «Triangle» model. At the time of publication of the forecast, the price of BRENT oil is $ 75.02 per barrel. At this point, we should expect an attempt to test the resistance area near the level of $ 76.50 per barrel. Further, the continued fall in oil prices in the region below the level of 67.50.
BRENT forecast & technical analysis July 13, 2018
In favor of lower quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong growth and a breakdown of the level of 77.10 dollars per barrel, which will indicate the breakdown of the resistance area and the continuation of the growth of quotations in the area above the level of 79.10. Expect to confirm the fall in the price of oil is with the breakdown of the lower boundary of the model «Triangle» and the closing below the level of 72.00.
BRENT forecast & technical analysis July 13, 2018 involves an attempt to test the resistance level near the area of 76.50 and continue falling with a target below the level of 67.50, the abolition of the variant of reducing the price of BRENT oil will be a strong growth and breakdown at level 77.10, which will indicate the continued growth of quotations in the area above the level of 79.05.
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