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 $ 59.88 per barrel. At the moment, we should expect an attempt to test the resistance level near the area of $ 60.95 per barrel. Further, the continuation of the fall of the oil in the area below the level of 53.85.
BRENT forecast & technical analysis November 27, 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. As well as a rebound from the upper boundary of the bearish channel Cancellation of the option of falling oil prices will be a strong increase and the breakdown level of 63.80 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 66.50. Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below the level of 58.50.
BRENT forecast & technical analysis November 27, 2018 imply an attempt to test the resistance level near 60.95. Further, the continuation of the fall with the target below the level of 53.85. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 63.80. This will indicate continued growth of quotations in the area above 66.50.
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