Quotes of BRENT continue to move within the correction. At this point, we should expect an attempt to test the resistance level near the area of 74.50 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 71.75.
BRENT forecast & technical analysis May 4, 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 a breakdown of the level of 76.50 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 77.50. 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.
BRENT forecast & technical analysis May 4, 2018 suggests an attempt resistance level test near the region of 74.50, and continued falling for the target below 71.75, the cancellation option fall in oil prices BRENT will be strong growth and the breakdown of the level of 76.50, which will point to a continuation of the growth of quotations in the area above the level of 77.50.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
