Brent crude oil is trading at $ 47.76 per barrel. Brent crude oil continues to trade within the Ichimoku Kinko Hyo Cloud, indicating a lateral trend in the Oil. Oil prices are expected to rise to $ 48.30 per barrel, followed by a test of the upper boundary of the Ichimoku Kinko Hyo Cloud near the level of $ 48.00 per barrel, from which one should expect an attempt to grow and further develop the bullish trend with a view to rising near the level of $ 50.20 per barrel.
Brent crude oil forecast & analysis on July 14, 2017
Earlier, a medium strength signal was received for Brent Oil buying, due to the crossing of signal lines at level 47.60. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 47.00 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 49.80.
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