Quotes oil BRENT brand on the current trading week, continued to test resistance area, and the upper limit of the bearish Wolfe wave model with a potential target of the lower level of 43 dollars per barrel. An additional signal in favor of the fall is the resistance of the downlink test indicator of relative strength.
Forecast BRENT oil on December 12, 2016 — December 16, 2016
Cancellation option will be a strong growth BRENT quotes above the level of 57 dollars per barrel and a breakdown field formations zones open area above the next area of resistance of $ 65 per barrel. In the case of the sharp fall in the framework of the mining model with the breakdown region 43 dollars per barrel, which will point to a continued decline likely test the area of a local minimum. Among the important news on the next trading week, 12 – 16 December 2016, which could have a strong impact on the price of oil BRENT, stands out, data on crude oil inventories from the US Department of Energy, the indicator will be presented to the market December 14, 2016, the past value was at the level of -2389K.
Forecast BRENT oil on December 12, 2016 — December 16, 2016 suggests an attempt to rebound and start falling within the mining model bearish Wolfe wave with a potential target for the dollar drops below level 43 per barrel, the cancellation will be the breakdown of the field formations zones and closing quotations at the level of 57 dollars per barrel.