Quotes of BRENT continue to move as part of a decline. At the time of publication of the forecast, the price of BRENT oil is 83.11 dollars per barrel. At the moment, we can expect an attempt to test the resistance level near the area of 84.90 dollars per barrel. Further, the continuation of the fall in the rate of oil in the region below 79.00.
BRENT forecast & technical analysis October 9, 2018
In favor of lowering quotations and prices for BRENT oil, a test of a broken trend line on the relative strength index (RSI) will be made. Confirmation of a fall in quotations will be a breakdown of the lower boundary of the rising channel and closing of quotes below the level of 82.00. Cancellation of the option of falling oil prices will be a strong growth and a breakdown of the level of 87.55 dollars per barrel, which will indicate a breakdown of the resistance area and continued growth of quotations to the area above the level of 90.50.
BRENT forecast & technical analysis October 9, 2018 imply an attempt to test the resistance level near 84.90 and continue falling to below 79.00, canceling the BRENT oil price fall option will be a strong growth and a breakdown of 87.55 that will indicate continued growth of quotations in the area above the level of 90.50.
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