Brent crude oil is trading at $ 63.32 a 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 upper test is expected near the level of 62.95, from which one should expect a rebound attempt and continue the development of a bullish trend with the target of rising near the level of 65.15 dollars per barrel.
Analysis & forecast Brent Oil on November 30, 2017
Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at 62.10. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of 62.05, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations of oil Brent is worth a breakdown of the level of 64.00.
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