BRENT.CMD

PREDICTED PRICE: $47.35

The Oil has reached a Bounce Level which is acting as support

There are 2 potential Support levels Identify as:
  • Closing Price of Sep/02/2016, at $46.72
  • Low of date Sep/02/2016 at $45.38
DAILY CHART:

Chart shows 2 potential levels of Support, this could be a bounce back up points.
The MACD Histogram indicates a possible move up convergence





4 HOUR CHART:

Chart indicates mainly a possible convergence developing, the first support was reached and shows a small bounce already on the last 4 Hour Candle, the RSI in the 4 Hour chart also shows getting to close to over sold condition.




FUNDAMENTALS: News Tell that Russia ans South Arabia may agree in a slow down Oil Production to push Price UP, Also winter is coming and Demand will Rise.

PREDICTED PRICE: $47.35

By FX_Riper
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