Quotes of WTI oil were also able to update the local maximum region, but full growth here did not happen. At the moment there is a potential WTI quotations fall within the mining model forex failure swing on the indicator of the relative force to drop below the level of $ 44 US. Also do not forget about the descending pattern Wolfe waves for the purpose of WTI to fall below $ 35 per barrel.
Forecast for oil prices in the week of 16 — 20 May 2016
Cancellation of the same variant of falling oil prices on the current model will be a strong increase in quotes above the level of 50 dollars per barrel.
Thus, Forecast for oil prices in the week of 16 — 20 May 2016 suggests an attempt to WTI quotations fall within mining reversal pattern failure swing with a view to below 45 dollars per barrel and a potential fall in the framework of working out a bearish wave Wolfe.