Quotes of BRENT crude oil continue to trade as part of the growth. At this point, we should expect a test level of 58.20 and continue falling to the area below the level of $ 55 per barrel. In favor of falling quotes and oil prices BRENT will test the resistance area on the indicator of relative strength index (RSI).
Brent prediction & technical analysis on October 17, 2017
Expect to accelerate the fall of quotations is with a breakdown of $ 54 per barrel, which indicates the completion of the formation of the reversal model «Double Top». The abolition of the fall in oil prices will be a strong growth and a breakdown of the level of 59.50 dollars per barrel, which will indicate the continued growth of BRENT above level 62.
Brent prediction & technical analysis on October 17, 2017 assumes an attempt to test the level of 58.20, from which it is expected to fall quotations and oil prices, in favor of the drop will test the resistance area on the indicator of relative strength index (RSI), the abolition of the fall will become a breakdown at level 59.50, which will indicate the continued growth of quotations BRENT above level 62.