Quotes of BRENT oil close the trading week near the region of $ 49 per barrel. We should expect an attempt to rebound from the level of resistance and continue to reduce oil quotations in the area below the level of $ 44 per barrel.
Brent crude weekly forecast on July 24 — 28, 2017
In favor of falling oil prices is the resistance line test on the indicator of relative strength index (RSI). An additional signal will be the formation of the bearish wave model of Wolfe. The abolition of the reduction option for BRENT will be a strong growth and breakdown of level 52, which will indicate the continued growth of oil.
Brent crude weekly forecast on July 24 — 28, 2017 suggests an attempt to fall below the level of $ 44 per barrel as part of the start-up of the bearish Wolfe wave model, with a breakdown of level 52, in which case it is expected to continue rising oil prices .
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