Quotes of BRENT continue to move in line with growth. At the time of the publication of the forecast, the price of BRENT oil is $ 84.87 per barrel. At the moment, we should expect an attempt to test the lower boundary of the ascending channel near the area of $ 82.25 per barrel. Further, the continuation of the growth rate of oil in the region above the level of 87.55.
BRENT forecast & technical analysis October 3, 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. Confirmation of growth will be the breakdown of the resistance area and the closing of quotations above 86.20. Cancellation of the option of rising oil prices will fall and the breakdown of the level of 81.55 dollars per barrel, which will indicate a breakdown of the support area and the continuation of the fall in quotations to the area below 77.90.
BRENT forecast & technical analysis October 3, 2018 imply an attempt to test the support level near 82.25 and continue to grow with a target above 86.05, the cancellation of the BRENT oil price growth option will drop and a breakdown of 87.55 will indicate continued decline area below 81.55.
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