Quotes of WTI oil tight test area of a local maximum. To date, the weekly chart, the price of oil formed a descending pattern Wolfe waves order to fall below the level of 40 dollars per barrel. Cancellation option quotes and falling oil prices to below the level of 40 will be a strong increase in WTI quotes above the level of 54 dollars per barrel, which will point to the continued rise in oil prices in November 2016.
WTI Forecast for oil prices November 2016
An additional signal favor of the implementation of trade ideas will sample the area of support on the indicator of relative strength.
WTI Forecast for oil prices November 2016 suggests an attempt to fall within the beginning of the descending wave pattern Wolfe with the potential to decrease below the level of 40 dollars per barrel, the cancellation will be the breakdown of the area of a local maximum.
