Oil WTI completes the trading week at 46.60 dollars per barrel. Oil WTI is trading 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 48.40, from which one should expect an attempt to drop and develop a bearish trend for Oil with a view to lower near the level of 43.30.
Ichimoku Kinko Hyo WTI crude oil Forecast May 8 — 12, 2017
Earlier, a signal of medium strength was obtained for the sale of WTI Oil, due to the intersection of signal lines at the level of 50.60. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 51.00, 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 44.40.
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