Quotes of BRENT close the trading week near the area of 83.02 dollars per barrel and continue to move within the growth. As part of the forecast publication, the BRENT oil price forecast for October 1 — 5, 2018, is expected to try the support area test near the level of 80.70 and the beginning of oil growth in the area above the level of 88.50 dollars per barrel.
BRENT crude oil forecast & analysis October 1 — 5, 2018
An additional signal for the growth of oil quotes this week will be a test of the support line on the indicator of relative strength index (RSI). The cancellation of the variant of growth of quotations and prices for BRENT oil on the trading week October 1 — 5, 2018 will bring a drop and a breakdown of the level of 78.00, which will indicate the breakdown of the support area and the continuation of the oil fall below 73.00. With the breakdown of the resistance area and the closing above the level of 84.00 it is necessary to expect confirmation of the growth of the price for oil BRENT.
BRENT crude oil forecast & analysis October 1 — 5, 2018 suggests an attempt to test the support area near the level of 80.70, from which one should expect a rebound and an attempt to increase oil with a potential target at the level of 88.50, an additional signal in favor of rising oil prices will be a test of the trend line at an indicator of relative strength index (RSI), the abolition of the growth option will be a decrease and breakdown of the area of 78.00, which will indicate the breakdown of the support area and the continued decline in the price of oil.
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