Brent crude oil is trading at $ 52.25 a barrel. Brent crude is trading below the lower boundary of the Ichimoku Cloud, indicating a downward trend in the Oil. It is expected to test the area of signal lines 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 51.00.
Ichimoku Kinko Hyo Brent prediction on April 27, 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 fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotes above the area of 54.90, indicating a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotes for Brent Oil is worth a breakdown of the local minimum area at the level of 51.70.
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