Analysis and forecast of oil prices BRENT on November 17, 2016


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Quotes BRENT crude oil left in the correction of the development, however, already at this point once again testing the upper limit of the downward channel. With the current levels can be expected to attempt to fall below $ 45 per barrel.

Analysis and forecast of oil prices BRENT on November 17, 2016

Analysis and forecast of oil prices BRENT on November 17, 2016

However, after the formation of a reversal should be expected forex head and shoulders pattern, which can trigger the development of ascending correction of oil in the region level of 50 dollars per barrel. Cancellation option of forming a reversal pattern will be a drop in prices of oil below the local minimum, in this case, is expected to continue falling BRENT prices.

Analysis and forecast of oil prices BRENT on November 17, 2016 assumes a reduction in oil to $ 45 per barrel in the beginning of formation within the forex inverted head and shoulders pattern.

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