Quotes of BRENT crude oil continue to move within the bullish trend. At the moment, quotes have broken through the resistance area and there is a potential for testing the upper boundary of the bearish channel. Where again we can expect a rebound and a drop in quotations BRENT crude oil in the area below the level $ 50 per barrel.
BRENT forecast of oil prices on May 22, 2017
In favor of the fall is the formation of a reversal pattern “The Failure Swing” on the indicator of relative strength index (RSI). The cancellation of the option of falling quotations and BRENT oil prices will be a strong growth and breakdown of the level $ 54 per barrel, which will indicate the breakdown of the upper border of the channel and the continuation of oil growth.
BRENT forecast of oil prices on May 22, 2017 involves an attempt to test the upper limit of the bearish channel and the fall of quotations in the area below the level $ 51 per barrel, the cancellation will be a breakdown of the upper boundary of the bearish channel.
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