Brent crude Oil completes the trading week near the level of 69.70 dollars per barrel. Brent crude continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in oil. The test area of Ichimoku Kinko Hyo signal lines near the level of 67.50 is expected, from which it is expected to attempt a rebound and further development of the bullish trend in Oil with a target near the level of 74.25.
Analysis & forecast Brent oil April 2 — 6, 2018
An additional signal in favor of growth is the test of the lower boundary of the bullish channel. Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at 64.70.
Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 64.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations Brent Oil is worth a breakdown of the upper limit of the model «Triangle» and closing above the area 71.50.
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