Quotes of BRENT crude oil continue to move within the correction. At the moment, we should expect an attempt to test the level of 62.50 as part of the completion of the «Head and Shoulders» reversal pattern. Further continuation of the fall in the support area at $ 59 per barrel. In favor of falling quotes and prices for oil BRENT is a test of the resistance line on the indicator of relative strength index (RSI).
BRENT crude oil technical analysis on November 21, 2017
Expect to accelerate the fall is with a breakdown of the level of the neck line of the reversal model «Head and Shoulders» and closing below 60.50. The abolition of the fall in oil prices will be a strong increase and a breakdown of 65 dollars per barrel, which will indicate the reversal of the reversal pattern and the continued growth of oil.
BRENT crude oil technical analysis on November 21, 2017 involves a test of the level of 62.50, from which one should expect a rebound and an attempt to continue falling with a target below the level of 59, in favor of falling oil prices is the trend line test on the indicator of relative strength index (RSI), the drop in the price of BRENT oil will be a breakdown at level 65, which will indicate continued growth.
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