Quotes BRENT crude oil continues to trade within the forex triangle patterns. At the moment, there is the potential to test the upper boundary of the model and the potential breakdown up that point to continued growth of quotations and price of oil.
Forecast BRENT oil price on August 31, 2016
However, if BRENT quotations will be able to break through the lower boundary, in this case, is expected to fall to the level of 46 dollars per barrel. We rather expect it attempt to break up and continuing rise in oil prices.
Forecast BRENT oil price on August 31, 2016 assumes the price going beyond the model triangle that points to the further development of the oil movement.
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