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 $85.19 per barrel. At the moment, we should expect an attempt to test the lower boundary of the ascending channel near the area of 83.90 dollars per barrel. Further, the continuation of the growth of oil in the region above the level of 88.90.
BRENT forecast & technical analysis October 4, 2018
In favor of the growth of quotations and prices for oil BRENT will test the upward trend line on the 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 level of 83.15 dollars per barrel, indicating that the breakdown of the support area and the continuation of the fall of quotations to the area below the level of 79.50.
BRENT forecast & technical analysis October 4, 2018 imply an attempt to test the support level near 83.90 and continue to grow with a target above 88.90, the cancellation of the BRENT oil price growth option will drop and a breakdown of 83.15 will indicate continued decline in quotations area below 79.50.
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