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 $ 72.71 per barrel. At the moment, we should expect an attempt to test the resistance level near the region of 74.80 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 68.35.
BRENT forecast & technical analysis November 6, 2018
BRENT will test the trend line on the relative strength index (RSI) in favor of lowering quotes and oil prices. Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below the level of 71.50. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 75.80 dollars per barrel, which will indicate a breakdown of the upper boundary of the downward channel and the continuation of the fall of quotations to the area above the level of 79.50.
BRENT forecast & technical analysis November 6, 2018 suggests an attempt to test the resistance level near 74.80 and continue falling to below 68.35, canceling the option of a falling BRENT oil price will become strong and break through the level of 75.80, which will indicate continued growth of quotations in the area above the level of 79.50.