Brent crude completes the trading week at $ 47.87 a barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Oil. Brent is expected to rise near the level of 49.40, from which it is expected to try to drop and develop a bearish trend for Oil with a view to lower near the level of 42.00.
Brent Oil weekly forecast on July 3 — 7, 2017
Previously, a strong signal was generated for the sale of Brent Oil, due to the crossing of signal lines at the level of 50.80. The cancellation of the drop in oil quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 51.90, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes for Brent Oil is worth a breakdown of the local minimum area at 43.70.
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