Brent crude completes the trading week at $ 47.48 per barrel. Brent crude continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Oil. It is expected to test the area of signal lines near the level of $ 49.40, from which one should expect an attempt to fall and develop a bearish trend for Oil with a target to lower near the level of $ 43.90.
Brent crude forecast for the week June 19 — 23, 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. 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 $ 52.90, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the drop in quotations for Brent Oil is worth a breakdown of the local minimum area at the level of $ 45.10.
