Quotes BRENT crude oil continued to rise and were able to test the area of $ 50 a barrel, but at the moment the values of the relative strength indicator clamped in the model triangle. On the one hand the penetration of such a model could push oil prices further up, on the other quotations of oil testing resistance area, which implies a drop in Brent prices in the region at a level below 48 dollars per barrel.
BRENT oil prices Forecast today May 17 2016
Cancellation option will break through the level of the upper limit of the triangle pattern that points to the potential increase in oil prices to above the level of 55 dollars per barrel. Thus, BRENT oil prices forecast today May 17 2016 suggests an attempt to level below 48 dollars per barrel in the rebound from the upper boundary of the triangle on the indicator RSI.