Quotes of BRENT crude oil continue to move within the framework of the development of the reversal model «Double Top». At this point, we should expect a test of resistance level near the area 62.20. Further continuation of the fall in the area below the level of 59.45. In favor of falling quotations and oil prices, BRENT will perform a bearish trend test on the indicator of relative strength index (RSI).
BRENT crude oil technical analysis on December 8, 2017
Expect to accelerate the decline of BRENT is with the breakdown of the nearest support and closing below 61.00. The abolition of the fall in oil prices will be a strong increase and breakdown at 63.00 dollars per barrel, which indicates the breakdown of the upper boundary of the channel and the continued growth of oil.
BRENT crude oil technical analysis on December 8, 2017 suggests an attempt to reduce oil prices with the target at the level of 59.45 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 63.00, indicating that growth will continue.
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