Quotes of BRENT continue to move as part of a decline. At the time of the publication of the forecast, the price of BRENT oil is 77.05 dollars per barrel. At the moment, we should expect an attempt to test the resistance level near the area of 78.50 dollars per barrel. Further, the continuation of the fall in the rate of oil in the region below the level of 73.50.
BRENT forecast & technical analysis October 25, 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 the breakdown of the support area and closing of quotes below the level of 75.50. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 79.50 dollars per barrel, which will indicate a breakdown of the upper boundary of the bearish channel and continued growth of quotations to the area above the level of 82.50.
BRENT forecast & technical analysis October 25, 2018 suggests an attempt to test the resistance level near 78.50 and continue falling to below 73.50; in the area above the level of 84.50.