Brent crude finished the trading month at $ 52.24 per barrel. Brent crude continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Oil. The Ichimoku Kinko Hyo Cloud test is expected near the level of 53.80, from which it is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near level 48.10.
Brent crude oil price forecast for August 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the crossing of signal lines at the level of 51.75. To consider selling costs with the breaking of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closing of quotations below the level of 44.50, in the case of breaking the upper boundary of the Ichimoku Kinko Hyo Cloud, one should expect the continuation of the bullish trend in Oil Brent.