Quotes BRENT crude oil continues to test resistance area near the level of 47.50 dollars per barrel. We continue to hold the sale of oil and still expect to try working out a broken triangle pattern on the chart.
OIL price forecast BRENT on July 22, 2016
An additional signal in favor of attempts to continue falling again testing the descending trendline on the Relative Strength indicator, which indicates the continuation of falling of quotations BRENT already from current levels. Cancellation option of falling oil prices will be strong growth and penetration of the field 52 dollars per barrel, which will point to the potential continuation of the uptrend.
OIL price forecast BRENT on July 22, 2016 suggests an attempt to fall in the rebound from the resistance line on the indicator RSI.
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