22, August 2016

Brent (a 4-hour chart)

General review

Oil prices continue to rise and today quotes test key resistance level of 51.01.

Trading recommendations

In case of breakdown and consolidation above $ 51, the bulls can move the market, towards the key resistance level of 53.53. In the case of rebound from the key resistance level of 51.01, we can expect a downward correction to the key support level of 48.01.