Quotes of BRENT continue to move within the bearish 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 72.05.
BRENT forecast & technical analysis May 31, 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 growth and a breakdown of the level of 77.90 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 80.50. 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 74.30.
BRENT forecast & technical analysis May 31, 2018 suggests an attempt to test the resistance level near the area of 76.50 and continue falling with the target below 72.05, the abolition of the variant of the drop in the price of BRENT oil will be a strong growth and a breakdown of the level of 77.90, which will indicate the continued growth of quotations in the area above the level of 80.50.
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