Quotes of BRENT crude oil continue to move within the ascending channel. At the moment, the indicator of relative strength is formed by the reversal Forex model. The failed swing, which indicates a potential breakdown of the area of $ 50 per barrel with closing prices.
Analysis and BRENT crude oil Forecast on May 15, 2017
It is worth reviving the attempt to fall into the area of the lower boundary of the channel. In favor of the fall will also breakdown the upward trend line on the indicator of relative strength. Cancellation of the variant of falling quotations and oil prices will break through the upper limit of the rising channel, which will indicate the acceleration of the growth of quotations BRENT. With the breakdown of the lower boundary of the channel, it is expected to accelerate the fall of oil and continue the development of a downward trend.
Analysis and BRENT crude oil Forecast on May 15, 2017 involves an attempt to fall to the lower boundary of the channel at $ 50 per barrel, to expect the continuation of the fall of oil is only with the breakdown of the lower boundary of the channel, the cancellation will be a strong rise in quotations and the breakdown of the region 52 Dollar per barrel, in this case it is expected to accelerate the growth of BRENT.
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