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Brent: Fibonacci analysis on 06.11.2015

A short-term growth is possible.

On the 4-hour chart, the price is trading in the area of 48.10 which is seen as a particularly strong level as 23.6% Fibonacci both for the short-term and medium-term trends have concentrated in the area of 48.10-47.80. After the consolidation above this level, the price may grow to 49.14 (38.2% correction, the crossover with the 50.0% arc) and 49.97 (50.0% correction). If the price consolidates below 48.20, it is likely to continue declining to 46.40.

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