Quotes of BRENT continue to move within the framework of a bullish correction. At this point, we should expect an attempt to test the resistance area near the level of 78.05 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 70.00.
BRENT forecast & technical analysis June 1, 2018
In favor of falling 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 80.40 dollars per barrel, which will indicate the breakdown of the resistance level and the continuation of the growth of quotations in the area above the level of 85.00. To expect confirmation of the fall in the price of oil is with the breakdown of the support area and the closure below the level of 74.00.
BRENT forecast & technical analysis June 1, 2018 presupposes an attempt to test the resistance level near the area of 78.05 and continue the fall with a target below 70.00, the cancellation of the variant of the drop in the price of BRENT oil will be a strong growth and breakdown at the level of 80.40, which will indicate the continued growth of quotations in the area above the level of 85.00.
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