Oil WTI is trading at 48.28. Oil WTI continues to trade below the lower boundary of the Ichimoku Cloud, which indicates the presence of a downward trend in Oil. It is expected to test the lower boundary of the Iсhimoku Cloud near the level of 48.40, from which one should expect an attempt to fall and develop a bearish trend for this pair in order to reduce the level of 46.40. Previously, a strong signal was received for the sale of WTI Oil, due to the intersection of the signal lines at the level of 49.00.
Ichimoku Forecast WTI oil on March 29, 2017
The abolition of the reduction option will be a breakdown of the upper boundary of the Iсhimoku Cloud with the closing of quotations above the area of 48.90, which indicates a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations WTI stands with the breakdown of the local minimum area at the level of 48.10.
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