Brent crude is trading at $ 46.88 per barrel. Brent crude continues to trade within the Ichimoku Kinko Hyo Cloud, indicating a lateral trend in the Oil. Ichimoku Kinko Hyo Cloud Bottom Test is expected near the level of $ 46.00 per barrel, where it is expected to test the upper boundary of Ichimoku Kinko Hyo Cloud near the level of $ 46.70 per barrel.
Crude Oil Forecast & Analysis Brent on June 29, 2017
Earlier, we received a weak signal for purchases of Brent Oil, due to the crossing of signal lines at the level of 45.80. Consider buying Brent Oil costs with the breaking of the upper boundary of the Cloud of Ichimoku Kinko Hyo and the closing of quotes above the level of $ 47.60 per barrel, in case of breaking through the lower boundary of the Cloud Ichimoku Kinko Hyo it is necessary to expect the further development of the bearish trend in Oil.
