Brent crude oil is trading at $ 54.07 per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in Oil. It is expected to test the area of signal lines near the level of $ 53.10 per barrel, where we can expect an attempt to grow and develop the bullish trend for Oil near the level of $ 55.40 per barrel.
Brent crude oil price prediction on May 23, 2017
Earlier, we received a weak signal for purchases of Brent crude oil, due to the crossing of the signal lines at the level of $ 49.00 per barrel. Canceling the growth of Brent crude oil quotes will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of $ 50.70 per barrel, 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 local maximum area at $ 55.00 per barrel.
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