Quotes BRENT crude oil ended the trading week at $ 55.63 a barrel. Currently quotes continues to move through forex triangle patterns. In favor of a decline in oil prices and the breakdown of the lower border model serves the rebound from the resistance line on the indicator of relative strength.
Forecast oil prices on January 30, 2017 — February 3, 2017
The immediate goal of the fall is the area at the level of 54 dollars per barrel, which breakdown is expected to continue falling below $ 50 a barrel. Cancellation option will break the upper limit model that points to continued growth in the region above the local maximum level.
Also do not forget about the forex model broadening formation with a view to working out and fall to a level below the area of $ 43 per barrel. Among the important news that could affect the price of oil, is to provide, data on stocks of crude oil from the Ministry of Energy of February 1, 2017.
Forecast oil prices on January 30, 2017 — February 3, 2017 suggests an attempt quotations fall within the beginning of mining forex triangle patterns with a view to a potential fall in the level below the area of $ 50 per barrel.
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