Quotes of BRENT oil finished the trading week at the level of 51.05 dollars per barrel. Quotes of oil were able to break the lower boundary of the rising channel and at the moment we should expect an attempt to test the broken channel border and continue the decline to the nearest support area near the level of $ 45 per barrel.
Brent Forecast on March 27, 2017 — March 31, 2017
Expect the acceleration of falling quotations and oil prices is with the breakdown of the local minimum area. In case of the beginning of the growth of quotations BRENT in the area above the level of 53 dollars per barrel, we should expect a tight test of the downward trend line on the indicator of relative strength and the continuation of the decline. The abolition of the drop in oil quotations will be followed by a breakdown of the region at $ 54 per barrel, indicating that the price of oil will continue to grow.
Among the important news that could affect oil prices, it is worth highlighting, Data on crude oil reserves from the US Department of Energy on March 29, 2017.
Brent Forecast on March 27, 2017 — March 31, 2017 involves an attempt to test the breached border of the rising channel and the beginning of the fall of quotations BRENT in the area below the level of 45 dollars per barrel, the cancellation will be the breakdown of the region 54 dollars.
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