Quotes of BRENT oil finished trading week at the level of 56.10 dollars per barrel. Quotes met an important resistance area and in case of the beginning of the fall at the next trading week, it is necessary to expect a reversal of the current trend and the beginning of development of the bearish trend in the area below the level of $ 50 per barrel.
Brent Forecast for the week on April 17 — 21, 2017
In favor of falling quotations and oil prices is the test of the resistance area on the indicator of relative strength. The cancellation of the variant of falling quotations BRENT will be a breakdown of the local maximum area, which will indicate the continued growth of oil. In the event of a strong fall and breakdown of the region of $ 50, it is expected to continue the decline in oil prices in the region below the level of $ 40 per barrel.
Among the important news that can affect oil prices, it is worth highlighting, Data on crude oil reserves from the US Department of Energy April 19, 2017.
Brent Forecast for the week on April 17 — 21, 2017 involves an attempt to fall below $ 50 per barrel within the rebound of the values of the relative strength indicator from the resistance area, the breakdown of the local maximum region breakdown, in which case one should expect the growth to continue Prices for oil.
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