Quotes of BRENT crude oil continue to move within the framework of the formation of the reversal model «Double Top». At this point, we should expect to try a test level of 64. Further continuation in the fall area below level 58 as part of the development of the reversal model «Double top».
BRENT crude oil technical analysis on December 5, 2017
In favor of falling quotes and oil prices, BRENT will test the downward trend line on the indicator of relative strength index (RSI). Expect a faster decline in BRENT, with a breakdown in the support area and a close below 61. The abolition of the fall in oil prices will be a strong increase and a breakdown of 65.50 dollars per barrel, which will indicate the reversal of the pattern and the continued growth of oil.
BRENT crude oil technical analysis on December 5, 2017 involves an attempt to reduce oil prices with a target at level 58 as part of the start of the development of the reversal model «Double Top», in favor of falling oil prices will perform a downlink resistance test on the indicator of relative strength index (RSI), the cancellation of the variant of the drop in the price of BRENT oil will be a breakdown at the level of 65.50, indicating that growth will continue.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
