BRENT forecast & technical analysis December 5, 2018


Quotes of BRENT continue to move in growth. At the time of the publication of the forecast, the price of BRENT oil is $ 62.83 per barrel. At the moment, we should expect an attempt to reduce and test the support level near the area of ​​62.50 dollars per barrel. Further, the continuation of the growth of the oil rate to the region above the level of 72.50.

BRENT forecast & technical analysis December 5, 2018

In favor of the growth of quotations and prices for oil BRENT will be a test of the broken trend line on the indicator of relative strength index (RSI). Cancellation of the option of rising oil prices will decrease and the breakdown level of 56.50 dollars per barrel. This will indicate a breakdown of the support area and the continuation of the fall in quotations to the area below the level of 52.50. Confirmation of the growth of quotations will be the breakdown of the resistance area and the closing of BRENT prices above 64.50.

BRENT forecast & technical analysis December 5, 2018

BRENT forecast & technical analysis December 5, 2018 imply an attempt to test the support level near the area of ​​62.50. Further, the continuation of growth with the goal above the level of 72.50. Cancellation of the growth rate of oil prices BRENT will fall and the breakdown level of 56.50. This will indicate a continued decline in quotations to the area below the level of 52.50.


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