BRENT forecast & technical analysis November 1, 2018


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Quotes of BRENT continue to move as part of a decline. At the time of publication of the forecast, the price of BRENT oil is $ 76.18 per barrel. At the moment, we should expect an attempt to test the resistance level near the area of ​​77.35 dollars per barrel. Further, the continuation of the fall of the oil in the area below the level of 72.65.

BRENT forecast & technical analysis November 1, 2018

In favor of lowering quotations and prices for BRENT oil, a test of the trend line on the relative strength index (RSI) will come out. Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below the level of 74.40. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 78.20 dollars per barrel, which will indicate a breakdown of the upper limit of the «Triangle» model and the continued growth of quotations in the region above the level of 81.50.

BRENT forecast & technical analysis November 1, 2018

BRENT forecast & technical analysis November 1, 2018 implies an attempt to test the resistance level near $ 77.35 and continue falling to below $ 72.65, canceling the option of falling BRENT oil prices will be strong growth and a breakdown of $ 78.20, indicating further growth in the area above the level of 81.50.


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