Quotes BRENT crude oil continues to move in the lateral movement and at the moment, oil prices are already testing the upper limit of the model triangle. We should expect a rebound attempt and the beginning of growth in the area of a local maximum.
BRENT oil price forecast on February 6, 2017
In favor of a rise in share price BRENT acts breakdown of the trend line on the indicator of relative strength. Cancellation option will drop in oil futures below $ 56 per barrel, which again points to the quotes returned into the model triangle.
Expect faster growth of quotations is a breakdown of the local maximum level.
BRENT oil price forecast on February 6, 2017 suggests an attempt to increase prices of oil in the rebound from a broken border triangle pattern with a potential upside target at the level of 59 dollars per barrel.
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