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 $ 81.67 per barrel. At the moment, we can expect an attempt to test the resistance level near the area of 83.50 dollars per barrel. Further, the continuation of the fall of the oil in the area below 76.65.
BRENT will test the trend line on the relative strength index (RSI) in favor of lowering quotes and oil prices.
BRENT forecast & technical analysis October 12, 2018
Confirmation of a fall in quotations will be a breakdown of the support area and closing of quotes below the level of 80.70. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 85.00 dollars per barrel, which will indicate a breakdown of the resistance area and continued growth of quotations to the area above the level of 87.50.
BRENT forecast & technical analysis October 12, 2018 imply an attempt to test the resistance level near 83.50 and continue falling to below 76.65, canceling the option of falling BRENT oil prices will become strong growth and a breakdown of 85.00, which will indicate continued growth of quotations in the area above the level of 87.50.