Oil Brent is trading at a level of 55.90 dollars per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an bullish trend in Oil. Oil prices are expected to drop to a level of $ 55.50 per barrel, from which one should expect an attempt of growth and further development of the bullish trend with the target of growth near the level of $ 57.60 per barrel.
Analysis & forecast Brent crude oil on September 22, 2017
Previously, a strong signal was received for the buying of Brent crude oil, due to the crossing of signal lines at the level of 53.80. 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 quotations below the area of 54.10, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations for Brent Oil is worth a breakdown of the local maximum area at 56.00.