Brent crude oil is trading at 51.05. Oil continues to trade below the moving average with a period of 55, indicating a bearish trend for Brent Oil. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the upper boundary of the bands, where again we should expect an attempt to continue the decline with the first goal near the level of 49.20.
Bollinger Bands forecast Brent on March 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 51.30. The abolition of the continuation of the fall of Brent Oil will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotes above the 52.20 area, indicating a change in the trend in favor of the bull on Brent Oil. In the event of a breakdown of the lower boundary of the indicator bands, it is expected to accelerate the fall of the pair into the area below the level of 49.20.
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