Brent crude oil is trading at $ 67.41 per barrel. Brent oil is trading 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 66.50 is expected, from which it is expected to attempt a rebound and continue the development of the upward trend with the target of growth near the level of 69.50 dollars per barrel. An additional signal in favor of growth will be a test of the support level, as well as a test of the lower boundary of the channel.
Analysis & forecast Brent Oil on February 28, 2018
Previously, a strong signal was received for the 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 Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 63.40, indicating a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations of Brent oil is with the breakdown of the resistance area and the closing above the level of 67.80.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
