Quotes BRENT crude oil continues to move in the form of forex model Triangle, at the moment of quotations were able to test the upper boundary of the area and pushed again. We should expect an attempt to model the lower border of the test with a potential breakdown it down and continue falling to below $ 50 per barrel.
BRENT oil price forecast on January 30, 2017
In favor of a continued decline in oil acts as a rebound from the resistance line on the indicator of relative price strength.
Cancellation option of falling oil prices and Brent will be strong growth above the level of 57 dollars, in this case we should expect continued growth in the region with the breakdown of a local maximum. Once again, we are trying to sell their oil, the tight stop and are ready to increase the volume of products with a decrease in development.
BRENT oil price forecast on January 30, 2017 suggests an attempt to drop to the lower boundary of the model triangle with the probability of breakdown it down with a decrease in the area at the level of 50 dollars per barrel.
