➡️ Brent Crude is trading at $80.70per barrel and is moving within the fall and the downtrend channel. The presence of a bearish trend can be traced for the instrument, which can develop into a correction. As part of the forecast for the Oil rate for November 5, 2021, the growth of the asset value is expected to develop and the test level of $83.10. Where can we expect an attempt to rebound and continue the fall in the value of Oil. The target of reducing Oil prices is the area near the level of $80.45 per barrel.
The problem of Oil shortages remains unresolved. The current high Oil demand remains a short-term support factor and the nature of the deficit is increasingly structural, and this will require much higher long-term Oil prices. Collectively, the bullish sentiment for Oil remains in place. Locally, a correction for Oil is expected, but globally, the instrument is still bullish.
🔔Proposed deal for this tool🔔:
🔴Entry Point - 83.06
⛔️Stop Loss - 84.89
✅Take Profit - 80.31
Thanks for your comments and likes 👍
The problem of Oil shortages remains unresolved. The current high Oil demand remains a short-term support factor and the nature of the deficit is increasingly structural, and this will require much higher long-term Oil prices. Collectively, the bullish sentiment for Oil remains in place. Locally, a correction for Oil is expected, but globally, the instrument is still bullish.
🔔Proposed deal for this tool🔔:
🔴Entry Point - 83.06
⛔️Stop Loss - 84.89
✅Take Profit - 80.31
Thanks for your comments and likes 👍
