Quotes of BRENT crude oil continue to grow. At this point, we should expect an attempt to test the level of 52.50, where again we should expect the continued decline in oil prices in the area below the level of 47 dollars. In favor of the drop, a resistance line test will be performed on the relative strength indicator (RSI).
Technical analysis & forecast crude oil on August 22, 2017
The abolition of the decline in oil prices will be a strong growth and breakdown of the local maximum area with the closing of quotes above the level of 54. Expect the acceleration of the fall of BRENT is with the breakdown of the support area and with the closing of quotations below the level of 49.
Technical analysis & forecast crude oil on August 22, 2017 involves an attempt to test the level of 52.50 and the continuation of the fall in oil prices, an additional signal in favor of the decline is the test of the trend line on the indicator of relative strength index (RSI), the cancellation will be a strong increase above the level of 54.
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