Brent crude oil finished the trading month at $ 50.12 per barrel. Brent crude continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in oil. Ichimoku Kinko Hyo Cloud Upper Test is expected near the level of 48.70, from which one should expect an attempt to grow and develop the bullish trend for oil near the level of 63.20.
Brent crude oil price forecast for June 2017
Earlier, a weak signal was received for the sale of Brent crude Oil, due to the crossing of the signal lines at the level of 51.00. Canceling the growth of oil quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 40.20, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations for Brent Oil is worth a breakdown of the local maximum area at the level of 59.60.
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