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 $ 76.47 per barrel. At the moment, we should expect an attempt to test the resistance level near the region of 77.60 dollars per barrel. Further, the continuation of the fall of the oil in the area below the level of 72.80.
BRENT forecast & technical analysis October 26, 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 $ 74.50. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 79.30 dollars per barrel, which will indicate a breakdown of the upper boundary of the bearish channel and the continued growth of quotations in the region above the level of 82.50.
BRENT forecast & technical analysis October 26, 2018 imply an attempt to test the resistance level near $ 77.60 and continue falling to below $ 72.80, cancellation of the option of falling BRENT oil prices will be strong growth and breakdown of 79.30, which will indicate continued growth of quotations in the area above the level of $ 82.50.