Quotes BRENT crude oil traded near the upper boundary of the rising channel, as well as near the top of the forex model Expanding formation, which involves an attempt to falling prices of oil in the area below the level of 44 dollars per barrel.
Forecast BRENT oil prices on January 2017
In favor of a continuation of falling of quotations and prices of an oil in January 2017 and enters a tight test of the descending trend line on the indicator of relative strength. At smaller time intervals formed a large reversal pattern Forex Head and shoulders, which also involves an attempt to fall and accelerate the development of the decline from the breakdown region 53 dollars per barrel.
Cancellation option an oil price fall of the brand BRENT will be strong growth and closing quotes above the level of 59 dollars per barrel, which will indicate the breakdown of the rising channel upper boundary, which in turn will trigger a signal in the purchase of oil and points to continued growth with dense test area $ 65 a barrel.
Forecast BRENT oil prices on January 2017 suggests an attempt to BRENT oil in January 2017 fall within the beginning of the descending pattern formation with expanding the potential target of the fall to a level below the area of $ 44 per barrel, the cancellation option will break-down area 59 dollars.
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