Brent crude is trading at $ 46.73 a barrel. Brent oil is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend for Oil. An attempt is expected to drop and develop a bearish trend for Oil with a view to lowering near the level of $ 44.20 per barrel.
Technical analysis & forecast Brent Oil on June 28, 2017
Earlier, we received a weak signal for buying of Brent Oil, due to the intersection of signal lines at the level of $ 45.80. 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 $ 47.50 per barrel area, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the drop in quotes for Brent Oil is with the breakdown of the local minimum area at $ 44.80 per barrel.
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