Brent crude is trading at $ 49.30 per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in BRENT Oil. It is expected to test the area of signal lines near the level of $ 49.90 per barrel, from which one should expect an attempt to drop and develop a bearish trend for Oil near the level of 47.20 dollars per barrel.
Technical analysis & forecast crude oil on June 6, 2017
Earlier, a weak signal was received for the sale of Brent crude Oil, due to the crossing of signal lines at the level of 53.15. 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 quotations above the area of 52.60 dollars per barrel, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes for Brent crude oil is worth a breakdown of the local minimum area at $ 47.80 per barrel.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
