Quotes of BRENT continue to move in line with growth. At the time of publication of the forecast, the price of BRENT oil is 79.23 dollars per barrel. At this point, we should expect an attempt to test the resistance level near the level of 79.45 dollars per barrel. Further, the beginning of the fall of the oil price in the region below the level of 75.50.
BRENT forecast & technical analysis September 13, 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 confirmation of the model will be the breakdown of the support area and the closing of quotations below the level of 74.50. The abolition of the fall in oil prices will be a strong growth and a breakdown of the level of 80.80 dollars per barrel, which will indicate the breakdown of the resistance area and the continuation of the fall of quotations in the region above the level of 82.50. To expect confirmation of the fall in the price of oil is with the breakdown of the upward trend line and the closing below the level of 77.50.
BRENT forecast & technical analysis September 13, 2018 involves an attempt to test the resistance level near the area of 79.45 and continue falling with a target below 75.50, the abolition of the variant of the price reduction of BRENT oil will be a strong growth and breakdown of the level of 80.80, which will indicate the continued growth of quotations in the area above the level of 82.50.
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