Quotes of WTI crude oil also showed a correction. At the moment, we are witnessing an uptrend line penetration, which may indicate the completion of the upward correction.
Forecast WTI oil prices June 20, 2016 — June 24, 2016
In this case, we can expect the beginning of falling as early as next week’s trading. Cancellation option quotes and falling oil prices will be a strong increase in WTI above the 52 dollars per barrel. An additional signal for the continuation of the fall also acts breaking through the support line on the indicator of relative strength. But also do not exclude an attempt correction in oil prices, and only after that to continue fall.
Forecast WTI oil prices June 20, 2016 — June 24, 2016 assumes the resumption of the downtrend on WTI with a potential target at a level below 42 dollars per barrel.
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