Quotes of BRENT crude oil continue to move within the limits of the decline. At this point, we should expect an attempt to correct quotes and oil prices in the region above the level of 47.40, where again we should expect the continued decline in oil below 44.50.
Technical analysis & forecast crude oil on July 11, 2017
In favor of correction is the test of the support line on the indicator of relative strength index (RSI). The abolition of the reduction option will be a strong growth and breakdown of the region of $ 48, which will indicate the continued rise in oil prices above the level of 50.
Technical analysis & forecast crude oil on July 11, 2017 involves an attempt to test the upper limit of the descending channel and continue the decline to below the level of 44.50, 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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