Quotes of BRENT crude oil continue to move within the growth framework. At the moment, the quotes have updated the local maximum area. However, the potential for falling quotations and oil prices remains. It is worth waiting for an attempt to drop the quotations BRENT in the area below the level of $ 53.50 per barrel.
Technical analysis & BRENT forecast on May 25, 2017
In favor of falling quotes is the formation of the reversal forex pattern «Head and Shoulders» on the indicator of relative strength index (RSI). The cancellation of the drop in oil quotations will result in a strong growth and breakdown of the region of $ 55 per barrel, which will indicate the continuation of BRENT. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the rising channel. Tomorrow the meeting of oil-exporting countries will take place, we should expect the growth of volatility.
BRENT forecast on May 25, 2017 involves an attempt to fall with the first target at the level of $ 53.50 per barrel, with the breakdown of this region it is expected to continue the decline, the breakdown will be the breakdown of the region $ 55 per barrel.
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