Quotes of BRENT oil continue to move within the downward trend, at the moment we should expect a tight test of the upper limit of the downward channel and the continued decline in quotations and oil prices in the region below the level of $ 50 per barrel.
BRENT oil price forecast on March 16, 2017
In favor of the continuation of the fall, a dense test of the descending line of the trend will appear on the indicator of relative strength. Cancellation of the variant of falling quotations and prices will break through the upper limit of the descending channel, indicating that the growth continues above the level of $ 54 per barrel.
BRENT oil price forecast on March 16, 2017 suggests an attempt to continue falling with a breakdown of the region $ 50 per barrel, the cancellation will be a breakdown of the upper boundary of the descending channel.
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