Brent crude is trading at $ 49.21 per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in Oil. The price of oil is expected to drop to the level of $ 48.50 per barrel, from which one should expect an attempt of growth and further development of the bullish trend with the purpose of growth near the level of $ 51.30 per barrel.
Analysis & forecast Brent crude on July 19, 2017
Earlier, a medium strength signal was received for the purchase of Brent Oil, due to the intersection of signal lines at level 47.60. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of $ 47.50 per barrel, indicating a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations for Brent crude oil is worth a breakdown of the local maximum area at the level of 50.60.
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