Quotes of BRENT crude oil close the trading week near the area of 67.55 dollars per barrel. It is worth waiting for an attempt to test the upper boundary of the rising channel near the level of 71.00 and the beginning of the fall of oil in the area below $ 55.00 per barrel as part of the development of the reversal model «Double Top».
BRENT crude oil forecast April 9 — 13, 2018
An additional signal in favor of falling oil prices will be the formation of a reversal model on the indicator of relative strength index (RSI). The cancellation of the variant of falling quotes and prices for BRENT oil in the current trading week will break through the level of 72.50, indicating that the oil will continue to rise to the level above the level of 75.00. With the breakdown of the bullish trendline and the closing below the level of 66.50, one should expect confirmation of a fall in the price of oil in the current trading week.
BRENT crude oil forecast April 9 — 13, 2018 suggests a resistance test near the 71.00 level, from which one should expect a rebound and an attempt to continue falling oil with a potential target at 55.00, an additional signal in favor of the oil price drop will be the formation of a reversal model for indicator of relative strength index (RSI), the cancellation of the fall option will be strong growth and breakdown of the support area of 72.50.