Quotes of BRENT crude oil finished the trading week at the level $ 53.76 per barrel. BRENT crude oil continues to move within the framework of an bullish correction. At the moment, we should expect a test of the upper boundary of the bearish channel near the level $ 54 per barrel, where again quotes may show a fall.
BRENT forecast on May 22, 2017 — May 26, 2017
In favor of falling quotations and oil prices will perform a test of the resistance level on the indicator of relative strength index (RSI). The cancellation of the drop in the price of BRENT crude oil will set the breakdown of the level $ 55 per barrel, which may indicate a continuation of growth above the local maximum level.
Among the important news that could affect the BRENT crude oil, it is worth highlighting, Crude Oil Inventories on May 24, 2017.
BRENT forecast on May 22, 2017 — May 26, 2017 suggests an attempt to test the upper boundary of the bearish channel and the beginning of a fall in the area below the level $ 50 per barrel, the cancellation of the fall in the price of oil will be the breakdown of the level $ 55 per barrel, in this case crude oil can test the local maximum region.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
