Quotes of BRENT continue to move in line with growth. At the time of publication of the forecast, the price of BRENT oil is 83.31 dollars per barrel. At this point, we should expect an attempt to test the lower limit of the rising channel near the area of 81.75 dollars per barrel. Further, the continued growth of the oil price in the region above the level of 86.05.
BRENT forecast & technical analysis October 2, 2018
In favor of the growth of quotations and prices for oil BRENT will test the upward trend line on the indicator of relative strength index (RSI), as well as rebound from the support area. Proof of growth will break through the resistance area and the closing of quotes above the level of 84.20. Abolition of the variant of oil price growth will be a drop and breakdown of the level of 80.65 dollars per barrel, which will indicate the breakdown of the support area and the continuation of the fall of quotations in the area below the level of 77.50.
BRENT forecast & technical analysis October 2, 2018 suggests an attempt to test the support level near the 81.75 area and continue growth with a target above the level of 86.05, the abolition of the variant of the price increase of BRENT oil will be a drop and a breakdown of the level of 80.65, which will indicate the continued decline in quotations in the area below the level of 77.50.
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