Brent crude oil is trading at $ 63.17 a barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend in Oil. Ichimoku Kinko Hyo Cloud upper test is expected near the level of 63.00, from which one should expect a rebound attempt and continuation of the development of the bullish trend with the aim of growth near the level of $ 66.50 per barrel. An additional signal in favor of oil growth will test the lower boundary of the bullish channel.
Analysis & forecast Brent Oil on November 15, 2017
Earlier, a weak signal was received for the sell of Brent Oil, due to the crossing of the signal lines at the level of 63.70. 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 61.50, indicating a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of oil quotes Brent is worth a breakdown of the level of 64.80.
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