Quotes of BRENT crude oil continue to move within the framework of an upward correction. At the moment, there is still potential for falling quotations and oil prices in the region below the level of $ 50 per barrel. In favor of the fall is the formation of the reversal Forex model “Head and Shoulders” on the indicator of relative strength index.
BRENT forecast crude oil prices on May 17, 2017
An additional signal is also the breakdown of the ascending trend line on the indicator of relative strength. The cancellation of the option could be the breakdown of the region at $ 53 per barrel, which indicates that growth will continue to the upper boundary of the descending channel at $ 54 per barrel.
BRENT forecast crude oil prices on May 17, 2017 involves an attempt to reduce the area to $ 51 per barrel as part of the development of the reversal Forex model “Head and Shoulders” on the indicator of relative strength, the cancellation of the variant of falling quotations and oil prices will break through the region 53 dollars per barrel.
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