Quotes of BRENT continue to move within the framework of correction and formation of the «Triangle» model. At this point, we should expect an attempt to test the resistance area near the level of 76.50 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 15, 2018
In favor of falling quotes and oil prices BRENT will test the resistance area on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong growth and a breakdown at 77.50 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 79.50. To expect confirmation of the fall in the price of oil is with the breakdown of the lower limit of the Triangle model and the closing below the level of 74.00.
BRENT forecast & technical analysis June 15, 2018 involves an attempt to test the resistance level near the area of 76.50 and continue falling 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 a breakdown of the level of 77.50, which will indicate the continued growth of quotations in the area above the level of 79.50.
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