BRENT oil price forecast – May 18, 2016


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Quotes BRENT crude oil continued to test highs and was able to tightly touch the downtrend line on the indicator of relative strength. At the moment, we can expect the beginning of falling to below $ 46 per barrel.

BRENT oil price forecast – May 18, 2016

BRENT oil price forecast – May 18, 2016

Cancellation option will break through the trend line on the indicator RSI, which will lead to an acceleration of the current uptrend, while the value of the indicator is at the bottom, is expected to fall to 46 or lower. We try selling BRENT crude oil with a close stop. And with the development of oil prices are ready to increase the volume of sales. Thus, BRENT oil price forecast – May 18, 2016 assumes the fall of quotations of oil in the rebound from the resistance line on the indicator of relative strength.


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