London Brent crude rising three trading days, contribute to this speculation weekly data that can demonstrate a reduction in crude oil reserves in the United States.
The situation of oil
prices and oil continue to rise. Buyers overcame another resistance level 51.50 and close to the level of 52.50.As oil actually bullish direction.
Histogram MACD is in the positive zone at points to a divergence signal line located inside the indicator. RSI reached overbought zone. Prices above the moving averages (50,100 and 200). The price is close to the historical peak on the daily chart, which is a value of 54. The forecast of oil BRENT today assume that the upward movement will continue, the breakdown of 52.50 will open the way to level 53.
Source Fort Financial Services