Brent crude oil is trading at $ 70.02 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 69.00, from which it is expected to attempt a rebound and continue the development of a bullish trend with a target to rising near the level of 72.55 dollars per barrel.
Analysis & forecast Brent Oil on January 25, 2018
Earlier, a medium strength signal was received for the buy of Brent Oil, due to the crossing of signal lines at 69.10.
Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 68.20, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of oil quotes Brent is with a breakdown of the level of 70.55.
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