Oil Brent completes the trading week at $ 50.89 per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in Oil. The Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 49.80, from which one should expect an attempt at growth and development of the bullish trend for Oil with a target to growth near the level of 56.00.
BRENT crude oil forecast on August 21 — 25, 2017
Earlier, a weak signal was generated for the buying of Brent crude Oil, due to the crossing of signal lines at the level of 47.80. 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 area of 48.20, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations for Brent Oil is worth a breakdown of the local maximum area at 55.20.
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