Brent crude oil completes the trading week at $ 48.19 per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in Oil. Brent is expected to rise near the level of $ 49.70, from which it is expected to try to drop and develop the bearish trend for Oil near the level of $ 44.80.
BRENT crude oil weekly forecast June 12 — 16, 2017
Previously, a strong signal was generated for the sale of Brent, due to the crossing of signal lines at the level of $ 50.80. 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 $ 52.50, which will indicate a change in the downward trend in favor of the upside. Expect to accelerate the fall in quotations for Brent Oil is worth a breakdown of the local minimum area at the level of $ 45.60.
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