Quotes of BRENT crude oil continue to move within the descending channel and at the moment there is a potential for continuing falling quotations and oil prices in the region below the level of 49.50 dollars per barrel. In favor of the decline is the formation of a downward Forex model 1:1, as well as the breakdown of the upward trend line on the indicator of relative strength. Expect the acceleration of falling quotations and oil prices is with the breakdown of the local minimum area.
BRENT forecast crude oil prices on May 4, 2017
BRENT forecast crude oil prices on May 4, 2017 suggests an attempt to continue the decline to below the level of 49.50 dollars per barrel as part of working out the bearish Forex 1:1 model, the cancellation of the fall variant will be a strong growth and breakdown of the region at $ 52 per barrel.
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