Technical analysis & forecast crude oil on September 7, 2017


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Quotes of BRENT crude oil continue to trade as part of the growth. At the moment, we should expect a rebound attempt from the level of $ 54 per barrel and falling quotes with a potential target near the area of ​​51.50.

Technical analysis & forecast crude oil on September 7, 2017

In favor of falling quotations and prices for oil BRENT is a test of the resistance line on the indicator of relative strength index (RSI), as well as the formation of the bearish wave model of Wolfe. The abolition of the fall in oil prices will be a strong growth and breakdown of the region of $ 55 per barrel, which will indicate the continued growth of oil above the level of 60. Expect the acceleration of the fall of BRENT is with the breakdown of the bottom of the rising channel and the closing of quotations below the level of 51 dollars per barrel.

Technical analysis & forecast crude oil on September 7, 2017

Technical analysis & forecast crude oil on September 7, 2017 suggests an attempt at a rebound from level 54 and a fall in quotations below 51.50, an additional signal is the formation of the bearish wave model of Wolfe, the cancellation will be a strong growth and breakdown of the region 55, which will indicate continued growth quotations of oil.


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