Brent crude Oil is trading at 51.05. Brent traded below the lower limit of the Ichimoku Cloud, which indicates the presence of a downward trend for Oil. It is expected to test the lower boundary of Ichimoku Cloud near the level of 51.35, where is expected to try and fall of a bearish trend for Brent crude oil in order to reduce the level of 49.75.
Ichimoku Kinko Hyo Forecast Brent on March 24, 2017
Previously it received a strong signal for the sale of Brent crude oil, due to the intersection of the signal lines at the level of 51.90. Cancellation option will reduce the breakdown of the upper limit of the Ichimoku Cloud with closing above 53.80 area quotes that point to change the downward trend in favor of the rising. Is expected to accelerate the fall of Brent oil quotations is a breakdown of the local minimum area at 51.20.
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