Brent crude Oil closes the trading week near the level of 67.17 dollars per barrel. Brent crude continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Oil. Ichimoku Kinko Hyo Cloud is expected to test near the level of 66.50, from which one should expect a rebound attempt and further development of the bullish trend in Oil with a target near the level of 72.50.
Analysis & forecast Brent oil on February 26 — March 2, 2018
Earlier, a weak signal was received for the sell of Brent Oil, due to the crossing of the signal lines at the level of 69.00. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 65.50, indicating a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations for Brent Oil is with the breakdown of the upper boundary of the Cloud and the closing above the area of 69.50.
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