Brent crude is trading at 48.75 dollars per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in Oil. Ichimoku Kinko Hyo Cloud is expected to test the upper limit near the level of 48.70 dollars 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 51.10 dollars per barrel.
Analysis & forecast Brent oil on July 25, 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the crossing of signal lines at the level of 49.17. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the 47.70 area, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations for Brent Oil is worth a breakdown of the local maximum area at the level of 50.70.
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