Quotes of BRENT continue to move in line with the decline. At the time of publication of the forecast, the price of BRENT oil is 76.00 dollars per barrel. At this point, we should expect an attempt to test the resistance level near the level of 76.75 dollars per barrel. Further, the continued fall in oil prices in the area below the level of 72.40.
BRENT forecast & technical analysis September 7, 2018
In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI). The abolition of the fall in oil prices will be a strong growth and a breakdown at 78.50 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 80.50. To expect confirmation of the fall in the price of oil is with the breakdown of the lower boundary of the bullish channel and the closing below the level of 74.05.
BRENT forecast & technical analysis September 7, 2018 suggests an attempt to test the resistance level near the area of 76.75 and continue falling with the target below 72.40, the abolition of the variant of reducing the price of BRENT oil will be a strong growth and breakdown of the level of 78.50, which will indicate the continued growth of quotations in the area above the level of 80.50.
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