Quotes BRENT crude oil continues to move in the downward trend. At the moment, preserved potential for a fall in quotations and prices for oil in the framework of the completion of the descending forex 1:1 model in order to reduce the area below 42 dollars per barrel.
Analysis and forecast of oil prices BRENT on November 15, 2016
Cancellation option will increase in quotes above the strong level of 47.50 dollars per barrel, which will point to the development of the upward correction in oil. In favor of the fall is the test of the descending trend line on the indicator of relative strength, but do not attempt to exclude upward correction brand BRENT oil price in the framework of the completion of the formation of topping forex head and shoulders pattern on the indicator of relative strength, it also points to a continuation of the fall.
Analysis and forecast of oil prices BRENT on November 15, 2016 suggests the fall of quotations for the purpose of trying to lower the field 42 within the completion of the descending pattern of 1: 1, the cancellation will be strong price growth, and going beyond the upper limit of the downward channel.