Quotes of oil BRENT brand, showed a strong movement in the OPEC decision to cut oil production from January 2017 up to 32 million barrels a knock. At the moment, oil prices continue to closely test the upper limit of the bearish Wolfe wave model. The purpose of the fall is the area on the level below 46 dollars per barrel.
Analysis and forecast of oil prices BRENT on December 2, 2016
In favor of the fall is the next test of the descending line of resistance on the relative strength indicator, which indicates an fall in the near future. We try to sell oil with a close stop. Cancellation option will be a strong growth above the level of 54 dollars per barrel.
Analysis and forecast of oil prices BRENT on December 2, 2016 suggests an attempt to fall within the beginning of working out a bearish wave pattern Wolfe with the potential to reduce the level below the area of $ 46 per barrel.
