Quotes BRENT crude oil ended the trading week at $ 48.38 a barrel. We continue to hold the sale of oil from a close table above the $ 51 per barrel. In favor of quotations and fall in oil prices appears to rebound from the resistance line, which implies the beginning of working out a reversal Forex Double Top model in order to reduce the area below the $ 35 per barrel.
Forecast BRENT oil price on November 28 — December 2, 2016
An additional signal in favor BRENT quotations fall is the test of the descending trend line on the indicator of relative strength. Cancellation option will reduce the strong growth of quotations of oil above the level of 53 dollars per barrel, which will indicate the breakdown field of the local maximum and the continuation of an upward trend with the upside above the level of 56 dollars per barrel.
Forecast BRENT oil price on November 28 — December 2, 2016 assumes the continuation of the decline from the test area 42 dollars per barrel, a break of this level will provoke a continued decline in the mining model within the Dual Top with a view to a potential fall below $ 35 per barrel.