Brent oil traded at $ 52.08 per barrel. Brent oil is trading below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend on Brent.
As part of the Brent crude oil prediction & analysis December 26, 2018, a test of the area of the Ichimoku Kinko Hyo signal lines near the level of 53.65 is expected. Where should we expect an attempt to rebound and continue falling. The target of reducing oil quotes is the area near the level of 47.45 dollars per barrel.
Brent crude oil prediction & analysis December 26, 2018
An additional signal in favor of the fall in prices for Brent oil will be a test of the resistance area. And also test the upper limit of the downward channel. Earlier, a medium strength signal was received for SELL the Brent Oil. The signal was formed due to the intersection of signal lines at the level of 60.05.
Canceling the option of falling oil quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 59.50 dollars per barrel. In this case, we should expect a change in the downward trend in favor of the upward trend and the continuation of price growth in the area above the level of 62.50. Brent is expected to accelerate the fall in quotations with a breakdown of the support area and closing below 51.00.
Brent crude oil prediction & analysis December 26, 2018 suggests an attempt to test the level of resistance level near the 53.65 area. Where can we expect a rebound and the continuation of the fall of oil with a potential target near the level of 47.45. Cancellation of the option to reduce quotes will be a strong growth and the breakdown of the 59.50 area. This will indicate a continued rise in the price of Brent.