Quotes of BRENT continue to move within the correction. At the time of publication of the forecast, the price of BRENT oil is 77.88 dollars per barrel. At this point, we should expect an attempt to test the resistance area near the level of 78.60 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 72.20.
BRENT forecast & technical analysis July 5, 2018
In favor of lower quotations and prices for oil BRENT will perform a test of a broken 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 81.20 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 85.00. To expect confirmation of the oil price decrease is with the breakdown of the support area and the closing below the level of 77.50.
BRENT forecast & technical analysis July 5, 2018 involves an attempt to test the resistance level near the area of 78.60 and continue falling with the target below 72.20, the abolition of the variant of the price reduction of BRENT oil will be a strong growth and breakdown at the level of 81.20, which will indicate the continued growth of quotations in the area above the level of 85.00.
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