BRENT complete trade week near the region 104.86 dollars per barrel. And continues to move in the framework of the correction after a strong lift and a bull canal. Moving averages indicate the presence of a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of raw materials and the potential continuation of the lifting. At the moment, it is worth an attempt to develop a correction and test of the support area near the level of 100.55. Then, it is worth considering the rebound up and the continuation of oil growth in the region above the level is 150.05 dollars per barrel.
BRENT Weekly Forecast March 21 — 25, 2022
An additional signal in favor of the growth of oil quotes this week will be the test of support lines on the relative force indicator. The second signal will be a rebound from the lower border of the bovine canal. Cancellation of the growth of quotes and oil prices on the trade March 21 — 25, 2022 will be the fall and breakdown of level 95.05. This will indicate the support area and continue the fall in the area below the level of 85.05. With the breakdown of the resistance areas and the closure of quotations above the level 115.05 it is worth expecting confirmation of the rise price of oil Brent.
BRENT Weekly Forecast March 21 — 25, 2022 implies an attempt to test the area of support near the level of 100.55. Where to expect a rebound and an attempt to increase oil with a potential target at the level of 155.05. An additional signal in favor of the oil price lift will be the trend line test on the relative force indicator. Cancellation of the growth rate will be the drop in price and breakfast area 95.05. This will indicate a breakdown of the support area and continue to reduce the oil price with a target below 85.05.
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