Quotes of BRENT crude oil close the trading week near the area of 55.41 dollars per barrel. We should expect an attempt to rebound and continue falling quotations and oil prices in the region below the level of $ 50 per barrel as part of the formation of the bullish «5-0» model.
BRENT crude oil forecast on October 9 — 13, 2017
In favor of the decline is a rebound from the resistance area on the price chart. An additional signal is the breakdown of the ascending trend line 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, indicating that the continued growth of oil with a test level of 65 dollars per barrel. Expect to accelerate the fall is with the breakdown of the level of 53 dollars per barrel.
BRENT crude oil forecast on October 9 — 13, 2017 suggests an attempt to lower oil prices in the region below the level of $ 50 per barrel as part of the completion of the bullish «5-0» model, an additional signal in favor of the oil price drop is a breakdown of the trend line at indicator of relative strength index (RSI).