Analysis and forecast oil prices BRENT on November 24, 2016


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Quotes BRENT crude oil continue to test the area of $ 50 per barrel. At the moment, we can expect the fall of quotations attempt to start mining within Wolf descending wave with an order to fall below the area of $ 46 per barrel.

Analysis and forecast oil prices BRENT on November 24, 2016

Analysis and forecast oil prices BRENT on November 24, 2016

Cancellation option will be a strong growth BRENT above the level of 52 dollars per barrel, which will indicate the continuation of an upward correction. In favor of the fall and stands the test downward trend line on the indicator of relative strength, as well as the potential for the formation of topping models forex head and shoulders on the indicator RSI. In addition to the price chart has the potential to complete the formation of Forex Diamond model, the breakdown of which points to a potential down the field test 47 dollars per barrel. We try aggressive sales of oil from a close stop.

Analysis and forecast oil prices BRENT on November 24, 2016 suggests an attempt to fall within the beginning of the descending wave pattern Wolfe, as well as by the rebound from the resistance line on the indicator of relative strength.

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