BRENT forecast & technical analysis November 7, 2018


Quotes of BRENT continue to move as part of a decline. At the time of the publication of the forecast, the price of BRENT oil is $ 72.58 per barrel. At the moment, we should expect an attempt to test the resistance level near the area of ​​73.70 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 67.85.

BRENT forecast & technical analysis November 7, 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 71.00. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 75.50 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 79.00.

BRENT forecast & technical analysis November 7, 2018

BRENT forecast & technical analysis November 7, 2018 implies an attempt to test the resistance level near the 73.70 area and continue falling to the target below the level of 67.85. Cancellation of the option of falling oil prices BRENT will be a strong growth and the breakdown level of 75.50, which will indicate continued growth of quotations in the area above the level of 79.00.


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