Brent crude oil is trading at $ 64.96 a barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Oil. Ichimoku Kinko Hyo Cloud near the level 65.10 is expected to be tested, from which it is expected to attempt a rebound and continue the development of a bearish trend with a target to falling near the level of 62.00 dollars per barrel.
Analysis & forecast Brent Oil on March 14, 2018
An additional signal in favor of the fall is the upper bound of the «Triangle» model. Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at the level of 64.80.
The cancellation of the drop in oil quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 66.00 area, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in oil quotes Brent is with the breakdown of the lower boundary of the model «Triangle» and the closure below the level of 63.40.
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