BRENT crude oil complete the trading week near the region of $ 62.31 per barrel. And it continues to move within the fall. Moving averages indicate a downward trend. At the moment, we should expect an attempt to correct and test the resistance area near the level of 64.50. Then continued the fall of oil in the area below the level of 51.65 dollars per barrel.
BRENT oil Forecast and Analysis June 10 — 14, 2019
An additional signal in favor of reducing the quotations of oil this week will be the test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. The abolition of the option of falling prices and BRENT oil prices on the trading week of June 10–14, 2019 will be a strong growth and a breakdown of the level of 71.55. This will indicate a breakdown of the upper boundary of the channel and the continuation of oil growth in the region above the level of 77.65. With the breakdown of the area of support and and closing of quotations below the level of 57.35, we should expect confirmation of a decline in the price of oil BRENT.
BRENT oil Forecast and Analysis June 10 — 14, 2019 implies an attempt to test the resistance area near the level of 64.50. Where can we expect a rebound and an attempt to drop oil with a potential goal at 51.65. An additional signal in favor of reducing the price of oil will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area of 71.55. This will indicate a breakdown of the resistance level and a continuation of the rise in the price of oil in order to exceed 77.65.