Quotes of BRENT continue to move within the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the price of BRENT oil is $ 60.66 per barrel. At the moment, we should expect an attempt to grow and test the resistance level near $ 63.40 per barrel. Further, the continuation of the fall of the oil in the area below the level of 53.55.
BRENT forecast & technical analysis December 11, 2018
BRENT will test the trend line on the relative strength index (RSI) in favor of lowering quotes and oil prices. Cancellation of the option to reduce oil prices will be a strong increase and the breakdown level of 66.25 dollars per barrel. This will indicate a breakdown of the upper limit of the «Triangle» model and the continuation of the growth of quotations in the area above the 69.50 level. Confirmation of the fall in quotations will be the breakdown of the lower boundary of the rising channel and the closing of BRENT prices below 57.80.
BRENT forecast & technical analysis December 11, 2018 imply an attempt to test the resistance level near the area of 63.40. Further, the continuation of the fall with the target below the level of 53.55. Cancellation of the option to reduce the price of oil BRENT will be a strong growth and the breakdown level of 66.25. This will indicate a continuation of the rise of quotations to an area above the level of 65.50.
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