Quotes of BRENT crude oil continue to trade near the resistance area. At this point, we should expect an attempt to continue the decline in oil prices in the support area near 50. Where again we should expect a rebound and an increase in oil prices.
Technical analysis & forecast crude oil on August 25, 2017
In favor of falling quotations, a resistance line test will be performed on the indicator of relative strength. The abolition of the fall in oil prices will be a strong growth and breakdown of the region of $ 54 per barrel, which will indicate the continued growth of oil.
Technical analysis & forecast crude oil on August 25, 2017 suggests an attempt to continue falling oil prices in the support area near the level of 50, an additional signal will test the trend line on the indicator of relative strength index (RSI).
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