Oil Brent completes the trading week at 45.65 dollars per barrel. Brent oil is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Oil. It is expected to test the area of signal lines near the level of 47.80, from which one should expect an attempt to fall and develop a bearish trend for Oil with a target to reducing near the level of 42.50.
Crude oil forecast BRENT on June 26 — 30, 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 a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 52.80, 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 with the breakdown of the local minimum area at 43.30.
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