Quotes of BRENT crude oil continue to move in line with growth. At the moment, we should expect a drop in quotations to the lower channel boundary at 62.70. Where can we expect a rebound and the continuation of the rise in oil prices above the level of 66.
Brent prediction & technical analysis on November 10, 2017
In favor of the growth of quotations and prices for oil BRENT will perform a resistance test on the indicator of relative strength index (RSI). Abolition of the variant of oil price growth will be a drop and breakdown of the level of 61.50 dollars per barrel, which will indicate the outflow of quotes beyond the ascending channel and the continuation of the fall. Expect to accelerate growth is with the breakdown of level 65.
Brent prediction & technical analysis on November 10, 2017 presupposes an attempt to test the lower boundary of the channel, from which one should expect a rebound and an attempt to continue growth with a target above level 66, in favor of rising oil prices, an uptrend test will be performed on the relative strength indicator, the abolition of the variant of the growth of the price of BRENT oil will be a breakdown of the level of 61.50, which will indicate the outflow of quotations for the limits of the channel and the continuation of the decline.
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