Brent crude oil is trading at $ 67.36 per barrel. Brent crude is trading above the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Oil. The test area of Ichimoku Kinko Hyo signal lines near level 66.30 is expected, 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 69.50 dollars per barrel.
Analysis & forecast Brent Oil on March 22, 2018
An additional signal in favor of growth will be a test of the lower border of the channel, as well as a test of the support level. Earlier, a signal of medium strength was obtained for the buy of Brent Oil, due to the crossing of signal lines at 64.80.
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 quotes below the area of 64.60, 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 the breakdown of the resistance area and the closure above the level of 68.20.
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