Quotes of BRENT oil continue to move within a downward trend and at the moment there is potential for the formation of a reversal forex model of the Head and shoulders, which will indicate a continued decline in the area below the level of $ 50 per barrel.
BRENT Forecast oil prices on March 20, 2017
In favor of accelerating the fall in quotations and oil prices, a breakdown of the uptrend line on the relative strength indicator will come out. The cancellation of the drop in oil quotations will be the breakdown of the channel’s borders and the closing of prices above the level of $ 53 per barrel, which will indicate the continued growth in the area above the level of $ 55.
BRENT Forecast oil prices on March 20, 2017 suggests an attempt at a minor correction as part of the formation of the right shoulder of the forex model of the Head and Shoulders and the continuation of the fall into the area below the level of $ 50 per barrel.
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