BRENT forecast & technical analysis May 18, 2018


Quotes of BRENT continue to move within the bullish channel. At the moment, we should expect an attempt to test the upper border of the channel near the area of ​​79.50 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 75.70.

BRENT forecast & technical analysis May 18, 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 increase 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 82.50. 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 78.00.

BRENT forecast & technical analysis May 18, 2018

BRENT forecast & technical analysis May 18, 2018 suggests an attempt to test the resistance level near the area of ​​79.50 and continue falling with the target below 75.70, 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 82.50.


Join our Telegram Channel


Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link

Post Comment