Brent oil is trading at 72.70.
Oil prices are below the Ichimoku cloud, which indicates a downward trend of BRENT. The signal lines of the indicator confirm the downward direction.
The blue signal line ($73 per barrel) acts as a resistance level. The support level for oil is at 71.40.
The price of Brent crude forecast oil 13 Aug 2018
The rollback after the fall of the oil rate-took place. now we assume the continuation of the downward movement. The strategy for oil will be to sell at market price, with a stop loss above the resistance level. The target of the downward movement of oil is the level of 70.5.
Thus, the forecast of BRENT oil on August 13 suggests a fall in the black gold prices to below 71.40.