Quotes of BRENT crude oil close the trading week near the area of 79.61 dollars per barrel. It is worth waiting for an attempt to test the upper boundary of the bullish channel near the level of 80.00 and the beginning of the fall of oil in the area below 72.00 dollars per barrel.
BRENT crude oil forecast May 21 — 25, 2018
An additional signal in favor of falling oil quotes in the current trading week will be a test of the resistance line 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 be a breakdown at level 82.50, which will indicate the breakdown of the upper boundary of the channel and the continuation of oil growth in the region above the level of 85.00. With the breakdown of the support area and the closing below the level of 77.00, one should expect confirmation of a fall in the price of oil in the current trading week.
BRENT crude oil forecast May 21 — 25, 2018 suggests a test of resistance near the level of 80.00, from which one should expect a rebound and an attempt to continue falling oil with a potential target at 72.00, an additional signal in favor of falling oil prices will be a test of the trend line at indicator of relative strength index (RSI), the cancellation of the fall variant will be a strong growth and breakdown of the region 82.50.