On Monday, Brent oil futures were trading in the region of at least 3 months.Pressure on prices of "black gold" have data on the growth of production in the United States, as well as growing volumes of crude production in OPEC.
Trend objectively bearish. Brent crude quotes remain in the "red" zone, and continue to decline. The session low was recorded in 41.85. Resistance is located at 42.80, support - to 41.40 dollars per barrel.
Indicators still form on sale signal. MACD has decreased, which indicates a strengthening of the positions of sellers. RSI is back in the oversold zone.
On the 4-hour chart, the price has dropped and moved away from the moving average of 50, 100 and 200. The moving averages (50, 100 and 200) are directed downwards.
Oil is forecast for today
Growth rates in the region of 42.80 can lead to rebound in a downward direction. Target rebound will mark 41.40, and 40.00.
Forecast Fort Financial Services