Quotes of BRENT close the trading week near the region of 80.01 dollars per barrel and continues to move as part of the decline. As part of the publication of the BRENT crude oil forecast & analysis October 22 — 26, 2018, we should expect an attempt to test the support area near the level of 78.20 and the start of oil growth in the area above the level of 89.50 dollars per barrel.
BRENT crude oil forecast & analysis October 22 — 26, 2018
An additional signal in favor of the growth of quotations of oil this week will be a test of the trend line on the relative strength index (RSI). The cancellation of the growth rate of quotations and prices for BRENT oil at the trading week of October 22 — 26, 2018 will be a fall and a breakdown of the level of 74.50, which will indicate a breakdown of the lower boundary of the channel and a continued decline in oil to the area below 70.40. With the breakdown of the resistance area and closure above 82.50, we should expect confirmation of growth in the price of oil BRENT.
BRENT crude oil forecast & analysis October 22 — 26, 2018 implies an attempt to test the support area near 78.20, from which we can expect a rebound and an attempt to increase oil with a potential target of 89.50, an additional signal in favor of rising oil prices will be a test trend line at the relative strength index (RSI), the cancellation of the growth option will be a fall and a breakdown of the 74.50 area, which will indicate a breakdown of the support area and a continued decline in the price of oil.