Brent crude is trading at $ 45.36 per barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Oil. Oil prices are expected to rise near the level of $ 46.30 per barrel, from which one should expect an attempt to drop and develop a bearish trend for Oil with a target to lowering the level of $ 42.60 per barrel.
Brent crude oil forecast on June 23, 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 $ 47.90 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 43.20 dollars per barrel.
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