Quotes of BRENT continue to move in the fall. At this point, we should expect an attempt to test the resistance area near the level of 74.50 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 67.10.
BRENT forecast & technical analysis June 6, 2018
In favor of falling quotations and prices for BRENT oil, a trend line test will be performed on the relative strength index (RSI), as well as a test of the «Neckline» of the reversal model. The abolition of the fall in oil prices will be a strong growth and breakdown of the level of 80.00 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 73.00.
BRENT forecast & technical analysis June 6, 2018 involves an attempt to test the resistance level near the 74.50 area and continue falling with a target below the level of 67.10, the cancellation of the variant of the drop in the price of BRENT oil will be a strong growth and breakdown of the level of 80.00, which will indicate the continued growth of quotations in the area above the level of 85.00.
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