Quotes of BRENT crude oil continue to move within the framework of an bullish correction. At the moment, we should expect the continuation of the fall in the area below the level of 51 dollars per barrel after a minor correction in the area of 51.80 dollars per barrel.
Analysis and forecast BRENT crude oil on May 18, 2017
In favor of the drop is a rebound from the resistance level on the indicator of relative strength index (RSI). And also the potential formation of the reversal pattern “Head and Shoulders” on the BRENT price chart. The cancellation of the falling of quotations BRENT crude oil will be the breakdown of the area of 52.50, which will indicate the continuation of growth in the area of the upper boundary of the descending channel.
Analysis and forecast BRENT crude oil on May 18, 2017 presupposes an attempt to fall below the level of $ 51 per barrel, the breakdown of which will indicate a continuation of the decline in the local minimum area, cancellation of the falling BRENT oil prices will be the breakdown at the level of 52.50 dollars per barrel.
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