Quotes of BRENT oil continue to move within the framework of the formation of the bearish wave model of Wolfe. The potential purpose of the fall is the area below the level of 44 dollars per barrel. At this point, we should expect a rebound and the growth of quotations of oil above the level of $ 50 per barrel.
Analysis and BRENT prediction oil prices on July 20, 2017
In favor of oil growth is the test of the support line on the indicator of relative strength index (RSI). The cancellation of the option will be followed by a fall and breakdown at level 48, which indicates that the price of oil will continue to drop below $ 44 per barrel.
Analysis and BRENT prediction oil prices on July 20, 2017 involves an attempt to test the level of the upper boundary of the bearish wave model of Wolfe with the potential target of working below the region of $ 44 per barrel, the cancellation of the fall will break through level 52, indicating that continued growth.
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