Brent crude oil completes the trading week at $ 52.41 a barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an bullish trend in Oil. The Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 50.80, from which one should expect an attempt at growth and development of the bullish trend for Oil with a view to growth near the level of 57.30.
Brent weekly forecast on September 4 — 8, 2017
Previously, a strong signal was generated for the buying of Brent Oil, due to the crossing of the signal lines at the level of 51.30. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the 48.00 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 56.00.
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