Brent crude oil is trading at $ 53.56 per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in Oil. It is expected to test the area of signal lines near the level of $ 52.90 per barrel, where we can expect an attempt to grow and develop the bullish trend for oil near the level of $ 55.50 per barrel.
Brent oil prediction & signals on May 24, 2017
Earlier, we received a weak signal for purchases of Brent Oil, due to the crossing of the signal lines at the level of $ 49.00 per barrel. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of $ 51.80 per barrel, which will indicate a change in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations for Brent Oil is worth a breakdown of the local maximum area at $ 54.70 per barrel.
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