Quotes BRENT crude oil ended the trading week at $ 56.35 a barrel. At the moment, oil prices continue to move in the forex model Triangle, quotes are repelled from the upper boundary of the model, indicating a potential rebound and fall to the lower limit on the level of 54 dollars per barrel.
BRENT Forecast oil prices on 27 February, 2017 — 3 March, 2017
Break of the support and the lower boundary of the model triangle points to the continued decline in the area below the level of 50 dollars per barrel. In favor of the falling of quotations options dense stands the test downward trend line on the indicator of relative strength.
Cancellation option will be the fall of oil quotations strong growth and the breakdown of the upper boundary of the model triangle with closing quotations above the level of 58 dollars per barrel, which will indicate the continuation of an upward trend.
Among the important news that could affect the price of oil, is to provide, data on crude oil inventories from the US Department of Energy March 1, 2017.
BRENT Forecast oil prices on 27 February, 2017 — 3 March, 2017 suggests an attempt to rebound from the upper boundary of the triangle model and to reduce the lower limit of the potential breakdown it down and reduce the development in the area below the level of 50 dollars per barrel.
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