Oil Brent completes the trading month at the level of 52.10 dollars per barrel. Brent oil is traded above the upper boundary of the Ichimoku Cloud, which indicates the presence of an upward trend in Oil. It is expected to test the upper boundary of the Ichimoku Cloud near the level of 48.60, from which one should expect an attempt to grow and develop the bullish trend for Oil near the level of 58.40.
Ichimoku Kinko Hyo Forecast Brent oil for May 2017
Earlier, we received a weak signal for purchases of Brent Oil, due to the intersection of the signal lines at the level of 38.70. The cancellation of the growth option will be the breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 43.80, 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 54.80.
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