Brent crude oil is trading at $ 63.26 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 is expected to be tested near the 63.00 level, from which one should expect a rebound attempt and continue the development of the bullish trend with the target of rising near the level of $ 65.25 per barrel.
Analysis & forecast Brent Oil on November 24, 2017
Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at 62.10. Canceling the growth of oil quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 61.60, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations of oil Brent is worth a breakdown of the level of 64.00.
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