Quotes of BRENT crude oil close the trading week near the area of 59.85 dollars per barrel. It is worth waiting for a test of the level of $ 60. 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 30 — November 3, 2017
An additional signal in favor of falling oil quotations is the formation of the «Head and Shoulders» reversal model 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 62, which indicates the continued growth of oil with a test level of 65 dollars per barrel. Expect the acceleration of the fall is with the breakdown of the level of the lower border of the channel and the closing below $ 57 per barrel.
BRENT crude oil forecast on October 30 — November 3, 2017 implies an attempt to fall into the support area at $ 55 per barrel, an additional signal in favor of the oil price decline is the formation of the «Head and Shoulders» reversal pattern on the relative strength indicator (RSI).
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