Quotes of BRENT continue to move in line with growth. At this point, we should expect an attempt to test the resistance level near the area of 76.20 dollars per barrel. Further, the continuation of the fall of oil in the area below the level of 72.55.
BRENT forecast & technical analysis May 9, 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 cancellation of the fall in oil prices will be a strong growth and breakdown at 77.50 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 78.50. To expect confirmation of the fall in the price of oil is due to the breakdown of the support area and the closing below the level of 71.50, indicating that the price of oil will continue to fall below 69.00.
BRENT forecast & technical analysis May 9, 2018 suggests an attempt to test the resistance level near the area of 76.20 and continue falling with a target below 72.55, 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 78.50.
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