Brent crude oil is trading at $ 49.46 per a barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the BRENT crude oil. It is expected to test the area of signal lines near the level of $ 50.50 per barrel, from which one should expect an attempt to drop and develop the bearish trend for Oil near the level of $ 46.90 per barrel.
Analysis and forecast Brent crude oil June 7, 2017
Earlier, a weak signal was received for the sale of Brent crude oil, due to the crossing of signal lines at the level of $ 53.15 per barrel. Cancellation of the drop in oil quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of $ 52.70 per barrel, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes for Brent crude oil is worth a breakdown of the local minimum area at $ 47.60 per barrel.
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