BRENT forecast & technical analysis September 21, 2018


Quotes of BRENT continue to move within the framework of the formation of the «Wedge» reversal model. At the time of publication of the forecast, the price of BRENT oil is 79.31 dollars per barrel. At this point, we should expect an attempt to test the resistance level near the level of 79.85 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 21, 2018

In favor of falling quotations and prices for oil BRENT will rebound from the resistance line on the indicator of relative strength index (RSI). Confirmation of the completion of the formation of the reversal model will be the breakdown of the support area and the closing of quotes below the level of 77.35. The abolition of the fall in oil prices will be a strong growth and a breakdown of 81.00 dollars per barrel, which will indicate the breakdown of the resistance area and the continued drop in quotations in the area above the level of 82.50.

BRENT forecast & technical analysis September 21, 2018

BRENT forecast & technical analysis September 21, 2018 involves an attempt to test the resistance level near the area of ​​79.85 and continue falling with a target below 75.50, the abolition of the option of reducing the price of BRENT oil will be a strong growth and breakdown at 81.00, which will indicate the continued growth of quotations in the area above the level of 82.50.


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