Quotes of BRENT crude oil continue to move within the framework of the formation of the «Triangle» model. At this point, we should expect an attempt to test the upper boundary of the model near the area of 64.10. Further continuation of the fall in the area below the level of 61.30.
BRENT crude oil technical analysis on December 12, 2017
In favor of the growth of quotations and prices for oil BRENT will perform a test of a broken trend line on the indicator of relative strength index (RSI). Expect the acceleration of the fall of BRENT is with the breakdown of the lower boundary of the model «Triangle» and the closure below 61.00. The abolition of the fall in oil prices will be a strong growth and a breakdown at 65.50 dollars per barrel, which indicates the breakdown of the upper limit of the model «Triangle» and the continued growth of oil.
BRENT crude oil technical analysis on December 12, 2017 involves an attempt to test the upper limit of the model near the level of 64.10, from where it is expected to reduce prices with a target below 61.30, the abolition of the variant of the drop in the price of BRENT oil will break through the level of 65.50, indicating a continued growth.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
