Brent crude oil is trading at $ 56.13 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 BRENT. The test of the signal line area of the indicator near the level of 55.50 is expected, from which one should expect an attempt of growth and further development of the bullish trend with a target near the level of 57.50 dollars per barrel.
Analysis & forecast Brent Oil on September 22, 2017
Previously, a strong signal was received for the buying of Brent Oil, due to the crossing of signal lines at 55.20. 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 54.30, 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 with the breakdown of the level of 57.00.
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