Quotes of BRENT crude oil continue to be traded within the bullish channel. At this point, we should expect an attempt to test the upper border of the channel near the level of 54.50 and continue the decline to the lower channel boundary area. In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI).
Analysis & forecast Brent crude oil on September 13, 2017
The abolition of the fall in oil prices will result in a strong growth and breakdown of the region at $ 55.50 per barrel, which will indicate a breakdown of the upper border of the channel and the continuation of oil growth above the level of 60. Expect the acceleration of the fall of BRENT with the breakdown of the support area and the closing of quotations below $ 53 a barrel .
Analysis & forecast Brent crude oil on September 13, 2017 suggests an attempt to increase oil quotations to the upper border of the channel at the level of 54.50, from where it is expected to continue the decline, an additional signal will test the resistance line on the indicator of relative strength index (RSI), the cancellation will be strong growth and breakdown area 55.50, which indicates the continued growth in oil prices.
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