Quotes of BRENT continue to move within the bullish channel. At this point, we should expect an attempt to test the resistance area near the level of 76.50 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 69.10.
BRENT forecast & technical analysis May 29, 2018
In favor of falling quotations and prices for oil BRENT will test the trend line on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong increase and a breakdown of the level of 80.60 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 83.00. To expect confirmation of the fall in the price of oil stands with the breakdown of the lower boundary of the bullish channel and the closing below the level of 73.60.
BRENT forecast & technical analysis May 29, 2018 suggests an attempt to test the resistance level near the area of 76.50 and continue falling with a target below the level of 69.10, 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 80.60, which will indicate the continued growth of quotations in the area above the level of 83.00.
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