Brent crude oil completes the trading week at a level of $ 49.78 per barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a downward trend in the Oil. Ichimoku Kinko Hyo Cloud is expected to test near the level of $ 51.00 per barrel, from which one should expect an attempt to drop and develop a bearish trend for Oil near the $ 46.00 level.
Brent crude oil weekly forecast June 5 — 9, 2017
Earlier, a weak signal was generated for the purchase of Brent Oil, due to the crossing of signal lines at the level of $ 51.41 per barrel. Canceling the variant of falling oil quotes will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of $ 52.30 per barrel, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations for Brent Oil is worth a breakdown of the local minimum area at $ 47.20 per barrel.
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