Quotes of BRENT continue to move in the fall. At the time of the publication of the forecast, the price of BRENT oil is $ 60.13 per barrel. At the moment, we can expect an attempt to grow and test the resistance level near the area of 61.50 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 54.55.
BRENT forecast & technical analysis December 7, 2018
In favor of lowering quotations and prices for BRENT oil, a test of a broken trend line on the relative strength index (RSI) will be made. Cancellation of the option to reduce oil prices will be a strong increase and the breakdown level of 63.50 dollars per barrel. This will indicate a breakdown of the resistance area and the continuation of growth of quotations in the area above the level of 65.50. Confirmation of the fall in quotations will be the breakdown of the lower boundary of the rising channel and the closing of the BRENT price below the level of 58.00.
BRENT forecast & technical analysis December 7, 2018 imply an attempt to test the resistance level near 61.50. Further, the continuation of the fall with the target below the level of 54.55. Cancellation of the option to reduce the price of oil BRENT will be a strong growth and the breakdown level of 63.50. This will indicate a continuation of the rise of quotations to an area above the level of 65.50.