Brent crude oil is trading at $ 49.92 a barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in BRENT. Oil prices are expected to rise near the level of $ 50.50 per barrel, from which one should expect an attempt to drop and develop the bearish trend for Oil near the level of $ 47.50 per barrel.
Brent crude oil price forecast on June 8, 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the intersection of the signal lines at the level of $ 53.15 per barrel. 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 quotations above the area of $ 52.70 per barrel, which will indicate a change in the downward trend in favor of the upward. Expect to accelerate the fall in quotations for Brent Oil is worth a breakdown of the local minimum area at the level of $ 48.20 per barrel.
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