Brent crude oil is trading at $ 46.99 per barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Oil. It is expected to test the area of signal lines near the level of $ 48.00 per barrel, from which one should expect an attempt to drop and develop a bearish trend in oil with a view to lowering the level of $ 44.60 per barrel.
Brent crude oil forecast on June 16, 2017
Previously, a strong signal was received for the sale of Brent crude Oil, due to the crossing of signal lines at 48.11. 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 quotes above the area of $ 49.50 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 Oil is with the breakdown of the local minimum area at $ 45.30 per barrel.
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