Quotes of BRENT continue to move in line with growth. At the time of publication of the forecast, the price of BRENT oil is 79.22 dollars per barrel. At this point, we should expect an attempt to test the lower limit of the bullish channel near the level of 78.10 dollars per barrel. Further, the continued growth of the oil price in the region above the level of 82.00.
BRENT forecast & technical analysis September 5, 2018
In favor of the growth of quotations and prices for oil BRENT will perform a test of the support line on the indicator of relative strength index (RSI). Abolition of the variant of oil price growth will be a drop and a breakdown of the level of 77.40 dollars per barrel, which will indicate the breakdown of the lower boundary of the bullish channel and the continuation of falling quotations in the area below the level of 75.00. To expect confirmation of the growth in the price of oil is with the breakdown of the resistance area and the closure above the level of 80.00.
BRENT forecast & technical analysis September 5, 2018 involves an attempt to test the level of support near the area of 78.10 and continue growth with a target above 82.00, the cancellation of the variant of the growth in the price of BRENT oil will be a drop and breakdown at 77.40, which will indicate the continued decline in quotations in the area below the level of 75.00.
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