Quotes of BRENT continue to move within the correction. At the time of publication of the forecast, the price of BRENT oil is 77.31 dollars per barrel. At this point, we should expect an attempt to test the bottom of the channel near the level of 75.45 dollars per barrel. Further, the continued growth of the oil price in the region above the level of 81.75.
BRENT forecast & technical analysis September 6, 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 breakdown of the level of 74.00 dollars per barrel, which will indicate the breakdown of the lower boundary of the bullish channel and the continuation of the fall of quotations in the area below the level of 70.65. 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 6, 2018 involves an attempt to test the level of support near the area of 75.45 and continue growth with a target above 81.75, the abolition of the variant of the growth in the price of BRENT oil will be a drop and breakdown at 74.00, which will indicate the continued decline in quotations in the area below the level of 70.65.
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