Quotes of Brent oil continue to move in line with expectations, at the moment it has the potential to fall below $39 per barrel. How we should expect the BRENT quotations correction and attempt to complete the formation of the head and shoulders pattern and falling above $41 per barrel. An additional signal in favor of the completion of the formation of an upward trend is penetration of the channel’s lower border, indicating the decline in oil prices in the short term. Cancellation option is updating the local maximum level.
Brent oil technical analysis and forecast on March 30
