Brent Oil Daily Forecast Nov 11 2014


The Brent Oil continued its bearish momentum yesterday , printed resistance at the 84.93 levels .This development leaves the pair targeting the 80.38 levels , a halt is likely , but a cut would open 78.35 next , further downside will aim the 73.00 levels.

On the upside , resistance comes at the 83.28 levels ahead of the 84.93 levels (main) , a clear break above the 84.93 levels will turn outlook neutral for retesting the 87.90 levels before the next fall.

In all , as long as resistance 84.93 holds on a daily closing basis , outlook in Brent Oil remains on the downside towards the 80.38 levels ahead of the 78.35 levels. Above 84.93 will bring limited gains towards  87.90 levels.


Brent Oil Daily Forecast Nov 11 2014




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