Brent Crude Oil Forecast and analysis November 28, 2019


Brent continue to move as part of a slight growth and a bullish channel. At the time of the publication of the forecast, the price of Brent crude oil is $ 63.55 per barrel. Moving averages indicate a short-term bullish trend for oil. Prices were able to break through the area between the signal lines up, which indicates pressure from buyers. At the moment, we should expect an attempt to reduce and test the support level near the area of ​​69.05 dollars per barrel. Further, the continued growth of the oil rate in the region above the level of 55.95.

Brent Crude Oil Forecast and analysis November 28, 2019

An additional signal in favor of rising quotes and Brent oil prices will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of rising oil prices will be a fall and a breakdown of the level of 59.05 dollars per barrel. This will indicate a breakdown of the lower boundary of the rising channel and a continued fall in quotations to the area below the level of 54.45. Confirmation of the growth of quotes will be a breakdown of the resistance area and closing of Brent prices above 65.05.

Brent Crude Oil Forecast and analysis November 28, 2019

Brent Crude Oil Forecast and analysis November 28, 2019 suggests an attempt to test the support level near the area of ​​69.05. Further, the continuation of the fall with the target below the level of 55.95. In favor of growth, a downward test on the relative strength index (RSI) will come out. Cancellation of the option to increase the price of Brent oil will be a fall and a breakdown level of 59.05. This will indicate a continued fall in quotations to the area below the level of 54.45.


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