Brent crude Oil is closing the trading week near the level of 56.25 dollars per barrel. Brent crude continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in oil. Ichimoku Kinko Hyo indicator area signal line test is expected near the level of 54.05, where we can expect an attempt of growth and development of the bullish trend for Oil with the target of growth near the level of 58.50. An additional signal in favor of rising oil prices will test the area of support.
Analysis & forecast Brent oil on September 25 — 29, 2017
Previously, a strong signal was generated for the buying of Brent Oil, due to the crossing of the signal lines at the level of 51.50. 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 area of 51.70, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations for Brent crude Oil is worth a breakdown of the area of 57.50.
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