Brent crude oil is trading at $ 50.83 per barrel. Brent oil broke through the Ichimoku Kinko Hyo Cloud and began to trade below its lower limit, indicating a downward trend in Oil. It is expected to test the area of signal lines near the level of $ 51.90 per barrel, from which one should expect an attempt to fall and develop a bearish trend for oil near the level of $ 48.50 dollars per barrel.
Brent oil forecast & analysis on June 1, 2017
Earlier, a weak signal was received for the sale of Brent Oil, due to the crossing of signal lines at the level of $ 53.25. 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 $ 53.80 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 Oil is worth a breakdown of the local minimum area at $ 49.10 per barrel.
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