WTI crude Oil is trading at 48.11. 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 area of signal lines near the level of 48.20, from which one should expect an attempt to fall and develop a bearish trend for this pair with a view to reducing near the level of 46.30.
Ichimoku Kinko Hyo forecast WTI crude oil on March 27, 2017
Previously, a strong signal was received for the sale of WTI Oil, due to the crossing of the signal lines at the level of 49.00. Cancellation of the reduction option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the 49.00 area, which will indicate 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 47.80.
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