Brent crude oil is trading at $ 48.46 per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Oil. Ichimoku Kinko Hyo Cloud near the level of $ 48.80 per barrel is expected to be tested, from which one should expect an attempt to drop and develop a bearish trend for Oil with a target near the level of $ 46.70 per barrel.
Brent crude oil forecast on June 15, 2017
Previously, a strong signal was received for the sale of Brent Oil, due to the intersection of the signal lines at the level of $ 48.73. Canceling the variant of falling oil quotes will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of $ 50.10 per barrel, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the drop in quotes for Brent Oil is with the breakdown of the local minimum area at $ 47.30 per barrel.
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