Quotes of BRENT continue to move in a downward trend. At the time of the publication of the forecast, the price of BRENT oil is 68.51 dollars per barrel. At the moment, we should expect an attempt to test the resistance level near $ 70.85 per barrel. Further, the continuation of the fall in the rate of oil in the area below the level of 62.00.
BRENT forecast & technical analysis November 14, 2018
BRENT will test the trend line on the relative strength index (RSI) in favor of lowering quotes and oil prices. As well as a rebound from the upper boundary of the descending channel. Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below the level of 67.00. Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 73.00 dollars per barrel. This will indicate a breakdown of the upper boundary of the downward channel and the continuation of the growth of quotations in the area above the level of 75.50.
BRENT forecast & technical analysis November 14, 2018 imply an attempt to test the resistance level near the area of 70.85. Then the continuation of the fall with the target below the level of 62.00. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 73.00. This will indicate continued growth in quotes in the area above 75.50.
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