Quotes of BRENT continue to move as part of the correction. At the time of the publication of the forecast, the price of BRENT oil is $ 84.99 per barrel. At the moment, we should expect an attempt to test the resistance level near the area of 85.35 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 81.30.
BRENT forecast & technical analysis October 11, 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 the breakdown of the lower boundary of the bullish channel and closing of quotes below the level of 83.50. 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 11, 2018 implies an attempt to test the resistance level near 85.35 and continue to drop below 81.30, cancel the drop in BRENT oil price option and increase the level of 86.55, indicating further growth in quotations in the area above 88.50.