Brent crude is trading at $ 51.89 a barrel. Brent oil is trading below the lower boundary of the Ichimoku Cloud, which indicates a downward trend in the Oil. It is expected to test the lower boundary of the Ichimoku Cloud near the level of 52.80, from which one should expect an attempt to drop and develop a bearish trend for Oil near the level of 50.80.
Ichimoku Kinko Hyo Brent oil forecast on May 1, 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the intersection of signal lines at 56.05. Cancellation of the variant of the fall will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 54.10, which will indicate a change in the downward trend in favor of the ascending trend. Expect the acceleration of the drop in quotations for Brent Oil is with the breakdown of the local minimum area at the level of 51.00.
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