Quotes of BRENT oil were able to break through the resistance at 50.50 and at the moment there is a potential for the development of a decline in the area below the level of $ 50 per barrel, where again one should expect an attempt at oil growth. In favor of the rebound will test the lower limit of the uplink, as well as a test of the support line on the indicator of relative strength.
Technical analysis and forecast BRENT on May 12, 2017
The cancellation of the variant of growth of quotations and prices for BRENT oil will be the fall and breakdown of the region of 48.50 dollars per barrel, which will indicate the continuation of the decline. In favor of continuing the development of a downward trend, the breakdown of the trend line on the indicator of relative strength will also perform.
Technical analysis and forecast BRENT on May 12, 2017 suggests an attempt to fall to the area of the lower border of the rising channel at the level of $ 50 per barrel, from which you should expect a rebound and an attempt to grow above the level of $ 51.50 per barrel, the breakdown of the region will be $ 49.
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