Quotes of BRENT continue to move within the bullish channel. At the time of publication of the forecast, the price of BRENT oil is 77.65 dollars per barrel. At the moment, we should expect an attempt to test the resistance level near the level of 79.35 dollars per barrel. Then began the fall of the oil price in the area below the level of 75.00.
BRENT forecast & technical analysis September 11, 2018
In favor of falling quotes and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Double Top». The abolition of the fall in oil prices will be a strong growth and a breakdown of the level of 80.50 dollars per barrel, which will indicate the breakdown of the resistance area and the continuation of falling 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 lower boundary of the rising channel and the closing below the level of 74.20.
BRENT forecast & technical analysis September 11, 2018 involves an attempt to test the resistance level near the area of 79.35 and continue falling with a target below 75.00, the abolition of the variant of the price reduction of BRENT oil will be a strong growth and a breakdown of the level of 80.50, which will indicate the continued growth of quotations in the area above the level of 82.50, and the cancellation of the formation of the reversal model.
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