Brent crude oil is trading at 66.10 dollars per barrel. Brent oil is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend in Oil. Ichimoku Kinko Hyo Cloud is expected to test near the level of 65.25, from which it is expected to attempt a rebound and continue the development of an upward trend with the target of rising near the level of 68.50 dollars per barrel. An additional signal in favor of growth will test the level of support.
Analysis & forecast Brent Oil on February 26, 2018
Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at 62.95. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 63.20, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of oil quotes Brent is with the breakdown of the upper boundary of the channel and the closure above the level of 67.00.
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