Brent crude oil finished the trading week at 52.28 dollars per 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 52.90, from which one should expect an attempt to drop and develop a bearish trend for Oil near level 50.20.
Ichimoku Kinko Hyo Forecast Brent on April 24 — 28, 2017
Earlier, we received a weak signal for purchases of Brent Oil, due to the crossing of signal lines at the level of 53.30. 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 55.60, which indicates 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 51.60.
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