Brent crude oil is trading at 62.81 dollars per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Oil. The test area of Ichimoku Kinko Hyo signal lines near the level of 63.95 is expected, from which it is expected to attempt a rebound and continue the development of a bearish trend with a target to falling near the level of $ 59.20 per barrel. An additional signal in favor of the fall will be the test of the upper boundary of the bearish channel.
Analysis & forecast Brent Oil on February 15, 2018
Previously, a strong signal was received for the sell of Brent Oil, due to the crossing of signal lines at 68.75. The cancellation of the drop in oil quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 66.80, indicating a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in oil quotes Brent is with the breakdown of the support area and the closing below the level of 61.20.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
