The price of Brent crude forecast oil 13 Aug 2018

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 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.

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