Quotes of BRENT crude oil continue to move within expectations and the formation of a bearish wave model of Wolfe. At this point, we should expect a rebound and a drop in oil quotations to the lower boundary of the channel at $ 50 per barrel.
Technical analysis & forecast crude oil on August 3, 2017
In favor of falling quotations BRENT will test the trend line on the indicator of relative strength index (RSI). The cancellation of the fall variant will be followed by breakdown of area 54, which will indicate the continued growth of oil.
Technical analysis & forecast crude oil on August 3, 2017 suggests an attempt to reduce to the area below the level of $ 50 per barrel within the rebound from the upper boundary of the rising channel, an additional signal will be a test of the resistance line on the indicator of relative strength index (RSI).
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