Quotes of BRENT continue to move in line with growth. At the moment, we should expect an attempt to test the upper border of the channel near the area of 77.50 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 74.50.
BRENT forecast & technical analysis May 10, 2018
In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong growth and breakdown at 78.50 dollars per barrel, which will indicate a breakdown of the resistance level 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 72.50, which will indicate that oil prices continue to fall below the level of 69.00.
BRENT forecast & technical analysis May 10, 2018 involves an attempt to test the resistance level near the area of 77.50 and continue falling with a target below 74.50, 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 80.50.
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