Quotes of BRENT crude oil continue to move within the framework of strong growth. At this point, we should expect an attempt to test the bottom of the channel near the 68.70 area. Then continue the growth in the area above the level of 72.00.
BRENT forecast & technical analysis March 27, 2018
In favor of the growth of quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). Abolition of the variant of oil price growth will be a drop and breakdown of the level of 67.70 dollars per barrel, which will indicate the breakdown of the lower border of the rising channel and the continuation of the decline of quotations below the level of 65.00. To expect confirmation of the growth of the price of oil is with the breakdown of the resistance area and closings above the level of 71.00.
BRENT forecast & technical analysis March 27, 2018 suggests an attempt to test the lower border of the channel near the 68.70 area and continue growth with a target above 71.50, the abolition of the variant of the price increase of BRENT oil will be a breakthrough of the level of 67.70, which will indicate a continued fall in quotations to the region below the level of 65.00.
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