Quotes of BRENT oil are traded near the level of 53 dollars per barrel. Oil continues to move within the upward trend due to the crossing of moving averages at $ 51 per barrel. The values of the MACD indicator are decreasing and at the moment there is the potential for forming a divergence in the sale of Oil, which seems to be the likely development of a fall in oil prices with breakdown of the local maximum area.
BRENT Technical analysis on April 5, 2017
It is worth to expect an attempt to rebound from the moving average area and continue falling oil quotations in the area above the level of $ 54 per barrel, where you should expect a fall in the signal processing for sale from MACD. Abolition of the variant of oil growth will be a strong growth and breakdown of the region of the slow moving average with the closing of quotations below the level of $ 52 per barrel, which will indicate a change in the trend in favor of a downward trend.
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