Brent crude oil is trading at 66.56 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 Brent oil. The test area of the Ichimoku Kinko Hyo signal line is near the level of 65.75, from which one should expect a rebound attempt and continue the development of the bullish trend with the target of rising near the level of 69.10 dollars per barrel.
Analysis & forecast Brent Oil on January 1, 2018
Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at the level of 63.80. 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 64.15, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations of oil Brent is with a breakdown of the level of 67.30.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
