Quotes BRENT crude oil traded at a local maximum. However, at this time the value of the relative strength indicator is testing the resistance line, indicating a potential rebound in November 2016, prices of oil, with the aim of falling below the level of 40 dollars per barrel. Cancellation option will drop the price of oil strong growth of quotations and sample region 54 dollars per barrel, which will point to a likely continuation of the upward trend in oil.
Forecast prices BRENT oil November 2016
As you can see, the nearest support area testing the rising trend line on the indicator of relative strength, but there is still room to reduce up to this test.
Forecast prices BRENT oil November 2016 suggests an attempt to fall in the rebound from the resistance line on the indicator of relative strength with a potential target of the fall below $ 40 a barrel with the possible test area 35.
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