Quotes of BRENT crude oil close the trading week near the region of $ 57 per barrel. It is worth waiting for a test of the level of 58 dollars. Whence again it is necessary to expect the continuation of the fall of quotations below the level of $ 50 per barrel in the framework of working out the model of the «Shark».
BRENT crude oil forecast on October 23 — 27, 2017
An additional signal in favor of falling quotes is the breakdown of the bullish trendline on the indicator of relative strength index (RSI). Canceling the option of lowering quotations and prices for BRENT oil in the current trading week will break through the area of 61, which indicates the outflow of quotes outside the channel and the continuation of oil growth with a test of 65 dollars per barrel. Expect the acceleration of the fall is with the breakdown of the support level and closing below $ 55 per barrel.
BRENT crude oil forecast on October 23 — 27, 2017 suggests an attempt to drop $ 50 per barrel to the bottom of the rising channel on uranium, an additional signal in favor of the oil price drop is a test of a broken trendline on the indicator of relative strength index (RSI).