Brent: Breakout of the level of 45.40 may trigger trend reversal. Technical analysis for 11.07.2016

Forex analytics: Review and dynamicsAfter reaching the level of 52.80 USD per barrel at the beginning of June, the price of crude oil Brent started to decline. On the daily chart a new descending channel has been formed with the lower limit close to the level of 45.40 (ЕМА144 on the daily chart). On daily, weekly and 4-hour charts the indicators OsMA and Stochastic give sell signals. Our opinion Currently, ...