Brent crude oil is trading at $ 46.07 per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Oil. Oil prices are expected to rise near the level of 47.10 dollars per barrel, from which one should expect an attempt to drop and develop a bearish trend for oil with a view to lower near the level of $ 43.70 per barrel.
Brent crude oil forecast on June 22, 2017
Previously, a strong signal was received for the sale of Brent Oil, due to the crossing of signal lines at level 46.80. 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 $ 48.10 per barrel, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations for Brent Oil is worth a breakdown of the local minimum area at $ 44.40 per barrel.
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