Brent crude is trading at 50.62. Brent oil continues to move below the lower boundary of the Ishimoku Cloud, indicating a downward trend in the Oil. It is expected to test the area of signal lines near the level of 51.15 dollars per barrel, where we can expect an attempt to drop and develop a bearish trend for Brent Oil with the aim of reducing the level of 48.90 dollars per barrel.
Ichimoku Kinko Hyo forecast Brent Oil on March 28, 2017
Previously, a strong signal was received for the sale of Brent Oil, due to the intersection of the signal lines at the level of 50.90. The abolition of the decline option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotes above the area of 52.10 dollars per barrel, which will indicate a change in the downward trend in favor of the upward trend. Expect to accelerate the fall in quotes Brent oil is worth a breakdown of the local minimum area at the level of 50.30.
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