Quotes of BRENT crude oil continue to be traded within the lateral movement. At this point, we should expect an attempt to test the upper limit of the «Triangle» model near the area of $ 52 per barrel. Where again we should expect a rebound and a drop in oil prices in the region below the level of $ 48 per barrel.
Technical analysis & forecast crude oil on September 1, 2017
In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of falling oil prices will be a strong growth and breakdown of the region 53 dollars per barrel, which will indicate the continued growth of oil. Expect the acceleration of the fall of BRENT is with the breakdown of the support level and the closing of quotations below the level of 50.
Technical analysis & forecast crude oil on September 1, 2017 involves an attempt to test the upper limit of the Forex «Triangle» model, from which it is expected to rebound and fall in oil quotations for a level below 48, an additional signal will test the trend line on the relative indicator index (RSI).
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