Quotes of BRENT complete the trading week near the region of $ 76.29 per barrel and continues to move as part of the decline. As part of the publication of the BRENT oil weekly forecast October 29 — November 2, 2018 is to expect an attempt to test the resistance area near the 78.60 level and continue the fall of oil to the area below the level of 71.00 dollars per barrel.
BRENT oil weekly forecast October 29 — November 2, 2018
An additional signal in favor of the fall in oil prices this week will be a broken trendline test on the relative strength index (RSI). Cancellation of the option of falling prices and BRENT oil prices on the trading week of October 29 — November 2, 2018 will be a strong growth and a breakdown of the level of 80.50, which will indicate that the resistance area is broken and the oil continues to grow to an area above the level of 86.50. With the breakdown of the lower boundary of the channel and closing below 74.00, we should expect confirmation of a fall in the price of oil BRENT.
BRENT oil weekly forecast October 29 — November 2, 2018 implies an attempt to test the resistance area near 78.60, where we should expect a rebound and an attempt to drop oil with a potential target at 71.00, a test of the trend line will be an additional signal on the relative strength index (RSI), the cancellation of the fall option will be a strong growth and a breakdown of the 80.50 area, which will indicate the breakdown of the resistance area and the continued rise in the price of oil.
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