Quotes of BRENT continue to move in the fall. At the time of the publication of the forecast, the price of BRENT oil is 77.49 dollars per barrel. At the moment, we can expect an attempt to test the resistance level near the area of 79.00 dollars per barrel. Further, the continuation of the fall of the oil in the region below the level of 74.50.
BRENT forecast & technical analysis October 24, 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 76.50. Cancellation of the fall in oil prices will be a strong growth and a breakdown of the level of 80.05 dollars per barrel, which will indicate a breakdown of the upper boundary of the downward channel and the continued growth of quotations in the area above the level of 84.50.
BRENT forecast & technical analysis October 24, 2018 imply an attempt to test the resistance level near 79.00 and continue falling to below 74.50, canceling the option of falling BRENT oil prices will be strong growth and a breakdown of 80.05, which will indicate continued growth of quotations in the area above the level of 84.50.
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