BRENT crude oil forecast on October 16 — 20, 2017


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Quotes of BRENT crude oil close the trading week near the region of $ 57 per barrel. One should expect an attempt to rebound from the lower border of the channel and continue the growth of quotations and oil prices in the region above the level of $ 59.50.

BRENT crude oil forecast on October 16 — 20, 2017

Whence again it is necessary to expect the attempt of falling of quotations below level 53 dollars for barrel. An additional signal in favor of the growth of quotations is the test of the bullish trendline on the indicator of relative strength index (RSI).

Canceling the option of lowering quotations and prices for BRENT oil in the current trading week will break through the area of ​​61, indicating that the continued growth of oil with a test level of 65 dollars per barrel. Expect to accelerate the fall is with the breakdown of the level of 55 dollars per barrel.

BRENT crude oil forecast on October 16 — 20, 2017

BRENT crude oil forecast on October 16 — 20, 2017 assumes an attempt to test the level of 59.50 dollars per barrel within the rebound of prices from the lower border of the bullish channel, an additional signal in favor of rising oil prices is the test of the trend line on the indicator of relative strength index (RSI).

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