Quotes BRENT crude oil finished the trading week in the framework at the level of 55.78 dollars per barrel correction. At the moment, preserved in an attempt to turn the potential of oil in the framework of start working out a reversal pattern Forex Head and Shoulders.
Oil price forecast on January 16, 2017 — January 20, 2017
We should expect the test area of 56 dollars and start falling from the breakdown area of $ 53.80 a barrel. Expect acceleration should fall to close below the level of the neckline a reversal pattern, as well as the breakdown field of 53 dollars per barrel. Also do not forget that formed broadening formation, which involves the breakdown field of 45 dollars per barrel.
Cancellation option downs and start working out forex model head and shoulders become strong rise above the level of $ 60, which indicates the acceleration of the bull trend with the immediate goal at the level of $ 65.
Among the important news that could affect the price of oil, is to provide, data on stocks of crude oil January 19, 2017.
Oil price forecast on January 16, 2017 — January 20, 2017 suggests an attempt to complete the formation of reversal pattern head and shoulders and began to fall with the immediate goal at the level of 53 dollars per barrel.
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