Quotes BRENT crude oil ended the trading week at $ 56.92 a barrel. Oil continues to trade within a lateral movement, as well as close to the upper boundary of the rising channel.
We should expect an attempt to test the upper boundary of the channel and the beginning of the fall of oil quotations to the level of support at the level of 54 dollars per barrel.
Brent Forecast oil on February 6, 2017 — February 10, 2017
The breakdown of the field point to a continuation of falling oil prices to below the ascending channel line and testing forex model broadening formation. In favor of the fall of the push test downward trend line on the indicator of relative strength.
Cancellation option will be the fall of oil quotations strong growth and the breakdown region of the upper boundary of the channel, which will point to the accelerating growth of oil prices.
Brent Forecast oil on February 6, 2017 — February 10, 2017 test involves the upper boundary of the channel John beginning to fall below the level of 54 dollars per barrel, the cancellation option mill breakdown level of 59 dollars.
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