Brent crude oil is trading at $ 48.06 per barrel. Brent crude oil continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Oil. Oil prices are expected to rise near the level of $ 49.10 per barrel, from which one should expect an attempt to drop and develop a bearish trend for Oil near the level of $ 46.30 per barrel.
Brent crude oil price forecast on June 9, 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 $ 53.15 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 $ 51.00 per barrel, which will indicate a change in the downward trend in favor of the ascending trend. Expect the acceleration of the drop in quotes for Brent Oil is with the breakdown of the local minimum area at $ 46.80 per barrel.
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