Quotes of BRENT continue to move within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the price of BRENT oil is $ 74.89 per barrel. At the moment, we should expect a test of the support area near the level of 74.60 dollars per barrel. Further, the continued growth of the oil price in the region above the level of 76.90.
BRENT forecast & technical analysis July 17, 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 a breakdown of the level of 73.70 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 76.00.
BRENT forecast & technical analysis July 17, 2018 suggests an attempt to test the level of support near the 74.60 area and continue growth with a target above the level of 76.90, the abolition of the variant of the growth of the price of BRENT oil will be a drop and breakdown at the level of 73.70, which will indicate the continued fall in quotations in the area is below the level of 72.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
