Brent crude is trading at $ 52.84 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 area of signal lines near the level of 53.40, from which one should expect an attempt to drop and develop the bearish trend for Oil near the level of 51.50.
Ichimoku Kinko Hyo Brent prediction on April 25, 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the intersection of signal lines at 56.05. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 55.00, which will indicate a change in the downward trend in favor of the ascending trend. Expect the acceleration of the drop in quotes for Brent Oil is with the breakdown of the local minimum area at the level of 52.30.
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