Quotes of BRENT crude oil continue to move in line with growth. At the moment, we should expect a decline in the area below the level of 60.50. Where can we expect a rebound and an attempt to form a reversal model «Head and shoulders», which will indicate the continuation of the fall in oil prices.
Brent prediction & technical analysis on November 7, 2017
In favor of falling quotations and prices for oil BRENT is the breakdown of the resistance line on the indicator of relative strength index (RSI). Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the bullish channel. The abolition of the fall in oil prices will be a strong increase and a breakdown of 63.50 dollars per barrel, which will indicate the continued rise in oil prices above the level of 65.
Brent prediction & technical analysis on November 7, 2017 presupposes an attempt to test the level of 60.50, from which one should expect a rebound and an attempt to form a reversal model, in favor of a decline in oil prices is the trendline test on the relative strength indicator (RSI), will breakdown the level of 63.50.
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