Brent crude oil is trading at $ 54.58 per barrel. Brent crude oil continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in oil. It is expected to test the area of signal lines near the level of $ 53.90 per barrel, where we can expect an attempt to grow and develop the bullish trend for oil near the level of $ 56.00 per barrel.
Analysis and forecast Brent oil on May 25, 2017
Earlier, we received a weak signal for buy of Brent Oil, due to the crossing of the signal lines at the level of $ 49.00. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of $ 51.90 per barrel, which will indicate a change in the upward trend in favor of a downward trend. Expect to accelerate the growth of quotations for Brent Oil is worth a breakdown of the local maximum area at $ 55.30 per barrel.
