Quotes of BRENT crude oil continue to move within the downward trend, but already now oil could break through the resistance area and there are risks of continuing growth in the area above the level of 53 dollars per barrel.
BRENT crude OIL Forecast on March 30, 2017
In favor of rising oil prices is the breakdown of the downward trend line on the indicator of relative strength, which also indicates a potential breakdown of the upper boundary of the descending channel. Canceling the option of continuing growth will fall below area 51, indicating that the decline will continue and test the lower boundary of the descending channel near the area of 49.50 dollars per barrel.
BRENT crude OIL Forecast on March 30, 2017 suggests an attempt to break the upper border of the channel and continue growth with a dense test of the area 53 dollars per barrel.
