Quotes of BRENT continue to move as part of growth. At the time of publication of the forecast, the price of BRENT oil is $ 86.44 per barrel. At the moment, we should expect an attempt to test the lower boundary of the bullish channel near the area of 84.65 dollars per barrel. Further, the continuation of the growth rate of oil in the region above the level of 89.90.
BRENT forecast & technical analysis October 5, 2018
In favor of the growth of quotations and prices for oil BRENT will test a rising trend line on the indicator of relative strength index (RSI), as well as a rebound from the area of support. The growth will be confirmed by the breakdown of the resistance area and the closing of quotes above the level of 87.30. Cancellation of the option of rising oil prices will fall and the breakdown level of 83.55 dollars per barrel, indicating that the breakdown of the support area and the continuation of the fall of quotations in the area below the level of 79.50.
BRENT forecast & technical analysis October 5, 2018 imply an attempt to test the support level near 84.65 and continue to grow with a target above 89.90, the cancellation of the BRENT oil price growth option will drop and the breakdown of 83.55 will indicate further decline in quotations area below 79.50.
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