BRENT forecast & technical analysis October 19, 2018


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Quotes of BRENT continue to move in the fall. At the time of publication of the forecast, the price of BRENT oil is $ 79.71 per barrel. At the moment, we should expect an attempt to test the resistance level near $ 80.45 per barrel. Further, the continuation of the fall of the oil in the region below the level of 74.60.

BRENT forecast & technical analysis October 19, 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 78.70. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 82.55 dollars per barrel, which will indicate a breakdown of the resistance area and continued growth of quotations to the area above the level of 84.50.

BRENT forecast & technical analysis October 19, 2018

BRENT forecast & technical analysis October 19, 2018 implies an attempt to test the resistance level near 80.45 and continue falling to below 74.60, canceling the BRENT oil price fall option will be a strong growth and a breakdown of 82.55, which will indicate continued growth of quotations in the area above the level of 84.50.


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