Brent crude oil finished the trading week 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 the Ichimoku Cloud near the level of 52.80, from which one should expect an attempt to drop and develop a bearish trend for Brent Oil with a view to reducing the level of 47.90.
Ichimoku Kinko Hyo forecast Brent on March 27 — 31, 2017
Earlier, a signal of medium strength was obtained for the sale of Brent Oil, due to intersection of signal lines at the level of 55.40. The abolition of the reduction option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 56.60, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotes Brent oil is worth a breakdown of the local minimum area at the level of 51.60.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
