Quotes of WTI crude oil continued to trade within a lateral trend. However, there remains the potential for a drop in prices and oil prices in the framework of the beginning of the descending wave pattern Wolfe with a potential target of the lower area of $ 32 per barrel. In favor of the version of the fall is the oil and formation model extends the formation in order to develop the area near the 41 dollars per barrel.
Analysis and forecast WTI oil prices in March 2017
Wait for the start of oil should fall to the breakdown of the support area at $ 50 in March 2017 a barrel. Relative Strength Indicator also points to the place to continue the decline to the lower boundary of the triangle model, the breakdown of which the bottom will indicate the acceleration of falling prices of oil WTI.
Cancellation option of the fall and of the descending wave pattern Wolfe will sample the region of $ 55 per barrel, which points to continued growth in the region above the level of $ 60.
Analysis and forecast WTI oil prices in March 2017 suggests an attempt to continue falling in the framework of the beginning of working out a bearish wave Wolfe with a potential target of the fall to a level below the area of $ 32 per barrel, the cancellation of options can be a breakdown field of 58 dollars.
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