Analysis & forecast Brent Oil on January 8, 2018


Brent crude oil is trading at 68.35 dollars per 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. The test area of ​​the Ichimoku Kinko Hyo signal line is near the level of 67.80, from which it is expected to attempt a rebound and continue the development of a bullish trend with a target to rising near the level of $ 70.20 per barrel.

Analysis & forecast Brent Oil on January 8, 2018

Analysis & forecast Brent Oil on January 8, 2018

Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of signal lines at the level of 63.80. Canceling the growth of oil quotes will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of ​​66.05, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of oil quotes Brent is with a breakdown of the level of 68.70.


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