Quotes of BRENT crude oil continue to move within the descending channel. It is worth waiting for an attempt to test the upper border of the channel and continue the decline in quotations and oil prices in the area below the level of 45.
Technical analysis & forecast crude oil on July 12, 2017
In favor of the drop, a dense test of the trend line will appear on the indicator of relative strength index (RSI). The abolition of the reduction option will be a level 48 breakdown, which will indicate the continued growth of BRENT. With the breakdown of level 45, we expect an acceleration in the fall in quotations and oil prices.
Technical analysis & forecast crude oil on July 12, 2017 involves an attempt to test the upper boundary of the channel and continue the decline to a region below the level of 45, an additional signal will be a test of the trend line on the indicator of relative strength index (RSI), the cancellation of the fall will be a breakdown at level 48.
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