Quotes of BRENT crude oil continue to be traded within the rising channel. At this point, we should expect an attempt to test the upper border of the channel near level 55 and continue the decline in the support area at the level of 52.80.
Analysis & forecast Brent crude oil on September 14, 2017
In favor of falling quotations and prices for oil BRENT will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the fall in oil prices will result in a strong growth and breakdown of the region at $ 55.50 per barrel, which will indicate a breakdown of the upper border of the channel and the continuation of oil growth above the level of 60. Expect the acceleration of the fall of BRENT with the breakdown of the support area and the closing of quotations below $ 53 a barrel.
Analysis & forecast Brent crude oil on September 14, 2017 involves an attempt to test the upper border of the channel at level 55, from which it is expected to fall oil prices in the area below the level of 52.80, an additional signal will test the trend line.