Quotes of BRENT complete the trading week near the area of 61.89 dollars per barrel. And it continues to move in a bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 68.50. Then the continuation of the fall of oil into the region below the level of 49.50 dollars per barrel.
BRENT oil weekly forecast & analysis November 26 — 30, 2018
An additional signal in favor of falling oil prices this week will be a test of the trend line on the relative strength index (RSI). The abolition of the option of falling prices and BRENT oil prices in the trading week from November 26 — 30, 2018 will be a strong growth and a breakdown of the 77.00 level. This will indicate a breakdown of the resistance area and continued oil growth to an area above 83.00. With the breakdown of the support area and closing below 58.50, we should expect confirmation of a fall in the BRENT oil price.
BRENT oil weekly forecast & analysis November 26 — 30, 2018 implies an attempt to test the resistance area near the level of 68.50. Where can we expect a rebound and an attempt to drop oil with a potential target at 49.50. An additional signal in favor of reducing the price of oil will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 77.00 area. This will indicate a breakdown of the resistance area and a continued rise in the price of oil.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
