Quotes of BRENT continue to move as part of the correction. At the time of publication of the forecast, the price of BRENT oil is $ 84.52 per barrel. At the moment, we should expect an attempt to test the resistance level near the area of 84.70 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 79.80.
BRENT forecast & technical analysis October 10, 2018
BRENT will test the trend line on the relative strength strength index (RSI) in favor of lowering quotes and oil prices. Confirmation of the fall in quotations will be the breakdown of the lower boundary of the rising channel and closing of quotes below the level of 82.10. Cancellation of the option of falling oil prices will be a strong increase and a breakdown of the level of 86.55 dollars per barrel, which will indicate a breakdown of the resistance area and continued growth of quotations to the area above the level of $ 88.50.
BRENT forecast & technical analysis October 10, 2018 imply an attempt to test the resistance level near 84.70 and continue falling to below 79.80, cancellation of the option of falling BRENT oil prices will be strong growth and a breakdown of 86.55 that indicates continued growth of quotations in the area above 88.50.