BRENT forecast & technical analysis October 30, 2018


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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 $ 77.67 per barrel. At the moment, we should expect an attempt to test the resistance level near $ 77.90 per barrel. Further, the continuation of the fall in the rate of oil in the region below the level of 72.40.

BRENT forecast & technical analysis October 30, 2018

In favor of lowering quotations and prices for BRENT oil, a test of the trend line on the relative strength index (RSI) will come out. 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 fall in oil prices will be a strong growth and a breakdown of the level of $ 79.40 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 30, 2018

BRENT forecast & technical analysis October 30, 2018 imply an attempt to test the resistance level near 77.90 and continue falling for a target below 72.40, canceling the BRENT oil price fall option will be a strong growth and a breakdown of 79.40 that will indicate continued growth in the area above the level of 82.50.


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