Quotes of BRENT continue to move in the downward channel. At the time of the publication of the forecast, the price of BRENT oil is $ 62.90 per barrel. At the moment, we can expect an attempt to test the resistance level near the area of 64.50 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 57.65.
BRENT forecast & technical analysis November 23, 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. Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 66.50 dollars per barrel. This will indicate a breakdown of the resistance area and continued growth of quotations in the area above the level of 70.50. Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below 61.55.
BRENT forecast & technical analysis November 23, 2018 imply an attempt to test the resistance level near the area of 64.50. Further, the continuation of the fall with the target below the level of 57.65. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 66.50. This will indicate continued growth in quotes in the area above the level of 70.50.
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