Quotes of BRENT continue to move within the bearish channel. At this point, we should expect an attempt to test the resistance area near the level of $ 75.20 per barrel. Further, the continuation of the fall of oil in the area below the level of 70.00.
BRENT forecast & technical analysis June 20, 2018
In favor of falling quotations and oil prices BRENT will perform a downward resistance test on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong increase and a breakdown of 77.00 dollars per barrel, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations in the area above the level of 80.50. To expect confirmation of the fall in the price of oil is with the breakdown of the support area and the closing below the level of 71.00.
BRENT forecast & technical analysis June 20, 2018 suggests an attempt to test the resistance level near the area of 75.20 and continue falling with a target below 70.00, the abolition of the variant of the drop in the price of BRENT oil will be a strong growth and breakdown at 77.00, which will indicate the continued growth of quotations in the area above the level of 80.50.
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