Quotes of BRENT crude oil continue to test the support area. 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 18, 2017
In favor of the drop, a resistance line test will be performed on the relative strength indicator (RSI). Abolishing the variant of oil price reduction will be a strong growth and breakdown of the region 54. Expect the acceleration of the drop in quotes BRENT is with the breakdown of the support area and with the closing of quotations below level 49.
Technical analysis & forecast crude oil on August 18, 2017 involves an attempt to test the area 52 and the continuation of the fall in oil prices, an additional signal in favor of the drop will come up a test of the resistance line on the indicator of relative strength index (RSI).
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