Brent crude oil is trading at $ 51.41 per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in Oil. It is expected to test the area of signal lines near the level of $ 52.20 per barrel, from which one should expect an attempt to drop and develop the bearish trend for oil near the level of $ 49.30 per barrel.
Brent crude oil forecast on June 2, 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the crossing of signal lines at the level of $ 53.25 per barrel. The 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 $ 53.10 per barrel, which will indicate a change in the downward trend in favor of the upward trend. Expect the acceleration of the drop in quotes for Brent Oil is with the breakdown of the local minimum area at the level of $ 49.80 per barrel.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
