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 74.80 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 69.50.
BRENT forecast & technical analysis June 27, 2018
In favor of falling quotations and prices for oil BRENT will test the bullish trend line on the indicator of relative strength index (RSI). Abolishing the variant of falling oil prices will be a strong growth and a breakdown of the level of 76.50 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 lower boundary of the «Triangle» model and the closing below the level of 73.50.
BRENT forecast & technical analysis June 27, 2018 suggests an attempt to test the resistance level near the 74.80 area and continue the fall with a target below the level of 69.50, the abolition of the variant of the drop in the price of BRENT oil will be a strong growth and a breakdown of the level of 76.50, which will indicate the continued growth of quotations in the area above the level of 80.50.
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