BRENT forecast & technical analysis October 16, 2018


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Quotes of BRENT continue to move as part of growth. At the time of the publication of the forecast, the price of BRENT oil is $ 81.21 per barrel. At the moment, we should expect an attempt to test the resistance level near the area of ​​82.15 dollars per barrel. Further, the continuation of the fall in the rate of oil in the area below 78.00.

BRENT forecast & technical analysis October 16, 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 $ 79.50. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of $ 83.20 per barrel, which will indicate a breakdown of the resistance area and continued growth of quotations to the area above the level of 85.50.

BRENT forecast & technical analysis October 16, 2018

BRENT forecast & technical analysis October 16, 2018 imply an attempt to test the resistance level near the 82.15 area and continue falling to below 78.00, cancel the oil price fall option BRENT will be a strong growth and breakdown of the 83.20 level, which will indicate continued growth in the region above the level of 85.50.


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