Quotes of BRENT complete the trading week near the region of 84.60 dollars per barrel and continues to move as part of growth. As part of the publication of the BRENT crude oil forecast & analysis October 8 — 12, 2018, we should expect an attempt to test the resistance area near the level of 87.00 and the beginning of the decline in oil to the area below the level of 77.00 dollars per barrel.
BRENT crude oil forecast & analysis October 8 — 12, 2018
An additional signal in favor of the fall in oil prices this week will be the test of resistance on the indicator of relative strength index (RSI). The cancellation of the option to reduce prices and BRENT oil prices on the trading week of October 8 — 12, 2018 will be a strong increase and a breakdown of the level of 88.50, which will indicate that the resistance area is broken and the oil continues to grow to an area above the 93.00 level. With the breakdown of the lower boundary of the rising channel and closing below 76.00, we should expect confirmation of a fall in the price of oil BRENT.
BRENT crude oil forecast & analysis October 8 — 12, 2018 implies an attempt to test the resistance area near 87.00, from which we can expect a rebound and an attempt to drop oil with a potential target of 77.00, an additional signal in favor of reducing the oil price will be the test of resistance at the relative strength index (RSI), the cancellation of the reduction option will be a strong growth and the breakdown of the 88.50 area, which will indicate the breakdown of the resistance area and the continued rise in the price of oil.