Quotes of BRENT crude oil continue to fall. At this point, we should expect an attempt to correct the quotations in the area above the level of 52, where again we should expect the continuation of the decline in oil prices in the region below the level of $ 47 per barrel.
Technical analysis & forecast crude oil on August 17, 2017
In favor of the drop, a resistance line test will be performed on the relative strength indicator (RSI). The abolition of the decline in oil prices will be a strong growth and breakdown of the region 53, which will indicate the continued growth of oil in the local maximum area. Expect the acceleration of falling quotations BRENT is with the breakdown of the local minimum area with the closing of quotations below 49.50.
Technical analysis & forecast crude oil on August 17, 2017 involves an attempt to test the area 52 and continue the decline in the area below the level of 47, an additional signal in favor of the drop will test the resistance line on the indicator of relative strength index (RSI).
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