Brent crude is trading at $ 52.57 a barrel. Brent crude continues to trade above the upper limit of the Ichimoku Cloud, indicating an upward trend in oil. It is expected to test the area of signal lines near the level of 51.80, from which one should expect an attempt at growth and development of the bullish trend for Oil Brent in order to increase the level of 53.60.
Ichimoku Kinko Hyo forecast Brent crude OIL on March 31, 2017
Earlier, we received a weak signal for purchases of Brent Oil, due to the crossing of the signal lines at the level of 51.00. The cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 50.25, indicating a change in the upward trend in favor of a downward trend. Expect an acceleration in the growth of quotes Brent Oil stands with a breakdown of the local maximum area at the level of 52.90.
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