Brent crude oil is trading at $ 67.01 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. The test area of the Ichimoku Kinko Hyo signal line is near the level of $ 66.00, from which it is expected to attempt a rebound and continue the development of a bullish trend with the target of rising near the level of $ 69.60 per barrel.
Analysis & forecast Brent Oil on January 2, 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 $ 64.30, 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 a breakdown of the level of $ 67.50.