Brent crude oil is trading at 48.07 dollars per barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Cloud, indicating a downward trend in the Oil. It is expected to test the area of signal lines near the level of 49.10, from which one should expect an attempt to drop and develop the bearish trend for Oil near the level of 45.50.
Ichimoku Kinko Hyo Forecast Brent oil on May 8, 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. The cancellation of the fall option will be the breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 50.90, which indicates a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotes for Brent Oil is worth a breakdown of the local minimum area at 46.70.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
