23, August 2016

Brent (a 4-hour chart)

General review

Oil has completed the last week in the area of 51 dollar per barrel.

Current situation

After a week of growth, the expected correction began to implement. Talks about a possible increase of the Fed rate, and the US dollar gains - will put pressure on the oil market.

Trading recommendations

We're careful with predictions about the depth and strength of correction. Nevertheless, the nearest support is in the area of $ 49 per barrel.