Quotes of BRENT crude oil continue to be traded within the lateral movement. At this point, we should expect an attempt to test the resistance level near the area of $ 54 per barrel. Where again we should expect a rebound and a drop in oil prices in the region below the level of 51.80 dollars per barrel.
Technical analysis & forecast crude oil on September 6, 2017
In favor of falling quotes and prices for oil BRENT is the test of the resistance area 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 at $ 54.70 per barrel, indicating that the oil will continue to rise above the level of 60. Expect the acceleration of the fall of BRENT with the breakdown of the bottom of the rising channel and the closing of quotes below the level of 51 dollars per barrel.
Technical analysis & forecast crude oil on September 6, 2017 involves an attempt to rebound from level 54 and the fall of quotations in the area below 51.80, an additional signal is the formation of the bearish wave model of Wolfe.
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