Crypto

Analytics and oil price forecast for June 23, 2022

Oil mark quotes Brent continue to move within the correction and the bullish channel. At the time of the publication of the forecast, the price of Brent crude oil is $111.35 per barrel. Moving averages indicate the presence of a short-term bullish trend in oil. Prices have broken through the area between the signal lines down, which indicates pressure from the sellers of “Black Gold” and a potential continuation of the fall in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a fall and test the support level near the area of ​​108.55 dollars per barrel. Further, the continuation of the growth of the oil rate in the area above the level of 133.05.

Analytics and oil price forecast for June 23, 2022

An additional signal in favor of the growth of quotes and prices for Brent oil will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of raising oil prices will be a fall and a breakdown of the level of 103.05 dollars per barrel. This will indicate a breakdown of the support area and a continued fall in BRENT quotes to the area below the level of 93.05. The rise in quotes will be confirmed by a breakdown of the resistance area and closing of Brent prices above the level of 118.45, which will indicate a breakdown of the upper limit of the bearish correction channel.

Thus, Analytics and oil price forecast for June 23, 2022 suggests an attempt to test the support level near the area of ​​108.55. Further, the continuation of the growth of oil with a target above the level of 133.05. In favor of the growth of the asset, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the option to raise the price of Brent oil will be a fall and a breakdown of the level of 103.05. This will indicate a continued fall in quotes to the area below the level of 93.05.

Leave a Reply

Your email address will not be published.