Brent crude oil is trading at $ 52.14 a barrel. Brent crude continues to trade below the lower boundary of the Iсhimoku Cloud, indicating a downward trend in the Oil. It is expected to test the lower boundary of the Ishimoku Cloud near the level of 52.50, from which one should expect an attempt to fall and develop a bearish trend for Oil near the level of 50.60.
Ichimoku Kinko Hyo Brent crude oil Forecast on May 3, 2017
Previously, a strong signal was received for the sale of Brent Oil, due to the intersection of signal lines at the level of 51.98. Cancellation of the variant of the fall will be a breakdown of the upper boundary of the Iсhimoku Cloud with the closing of quotations above the area of 53.90, which will indicate a change in the downward trend in favor of the ascending trend. Expect the acceleration of the drop in quotes for Brent Oil is with the breakdown of the local minimum area at the level of 51.20.
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