Quotes of BRENT oil finished the trading week at the level of 53.67 dollars per barrel. Oil could show a rebound from the bottom of the rising channel and at the moment there is still potential for continued growth of quotations and oil prices in the region above the level of $ 55 per barrel. Where can we expect a rebound and the beginning of the fall in oil prices in the region below the level of $ 50 per barrel.
BRENT crude oil Prediction on April 3, 2017 — April 7, 2017
In favor of the fall of oil, a downward trend line test will perform on the indicator of relative strength. The cancellation of the reduction option can be a strong growth and breakdown of the upper boundary of the descending channel, which will indicate the continued growth of quotations in the area above the local maximum level. Among the important news that may have an impact on oil prices, it is worth highlighting, Data on crude oil reserves from the US Department of Energy on April 5, 2017.
BRENT crude oil Prediction on April 3, 2017 — April 7, 2017 suggests an attempt to increase in the area of $ 55 per barrel, from which you should expect a rebound and the beginning of a fall to the local minimum near $ 50 per barrel.
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