Oil price analysis and forecast for April 14, 2021
Brent oil quotes continue to move as part of the correction and the formation of the bullish Wolfe Wave pattern. At the time of the publication of the forecast, the price of Brent crude oil is $ 63.76 per barrel. Moving averages indicate a short-term bearish trend for oil. Prices continue to push away from the area between the signal lines, which indicates pressure from sellers of “Black Gold” and a potential continuation of the fall in the value of the asset already from the current levels. At the moment, we should expect an attempt to develop a downward correction and a test of the support level near the area of $ 57.95 per barrel. Further, the continued growth of the oil rate to the area above the level of 70.15.
Oil price analysis and forecast for April 14, 2021
An additional signal in favor of the growth of quotations 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 boundary of the bullish Wolfe Wave pattern. Cancellation of the option of rising oil prices will be a fall and a breakdown of the level of $ 53.15 per barrel. This will indicate a breakdown of the support area and a continued fall in BRENT quotes to an area below the level of 49.75. Confirmation of the growth of quotations will be the breakdown of the resistance level and the closing of Brent prices above the level of 64.05.
BRENT Crude Oil Forecast and analysis April 14, 2021 therefore imply an attempt to below the support level near the 57.95 area. Further, continued growth with a target above the level of 70.15. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the growth option for Brent oil will be a fall and a breakdown of the level of 53.15. This will indicate a continued fall in quotations to the area below the level of 49.75. (Also Read: Playboy gets into the NFT business)
Alcoa Corporation Shares Forecast for April 2021
Alcoa Corporation quotes continue to move within the growth and upward channel. Moving averages indicate a short-term bullish trend for Alcoa Corporation. Prices moved up from the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast the share price is 31.95 As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the area of 24.85. Further, a rebound and continued growth in the value of securities. The potential target of such a movement is the area above the level of 38.05.
Alcoa Corporation Shares Forecast for April 2021
An additional signal in favor of the growth of Alcoa Corporation quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the Alcoa Corporation share price will be a fall and a breakdown of the level of 20.55. This will indicate a breakdown of the support area and continued fall into the area at the level of 12.55. Expect acceleration of the growth of stocks with the breakdown of the resistance area and closing above the level of 34.05.
Thus, Alcoa Corporation Shares forecast for April 2021 implies the development of a correction and a test of the support area near the level of 24.85. Where can we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 38.05. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the growth option for Alcoa Corporation will be a fall and a breakdown of the level of 20.55. This will indicate a breakdown of support and a continued fall in value to the area below the level of 12.55.
