Brent, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line remains horizontal, while the red one has turned upwards. Chinkou Span line is below the price chart; current Kumo-cloud is descending. After strong fall, the pair has being corrected above Tenkan-sen line, which is now a support level (56.95). The closest resistance level is Kijun-sen line (58.57).

Forex: Ichimoku Clouds. Review of Brent

Brent, D1

On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair is still trading within the cloud, the lower border of which is a support level (52.53). Tenkan-sen line is a resistance level at 59.16.

Forex: Ichimoku Clouds. Review of Brent

Key levels

Support levels: 56.95, 52.53.

Resistance levels: 68.57, 59.16.

Trading tips

On the four-hour chart the pair is being corrected after the fall, on the daily one it is still trading within the cloud. In expectation of trend reversal pending buy orders should be placed above 58.57 with targets at 60.00.

The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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