Oil WTI is trading at the level of 46.65 dollars per barrel. Oil WTI is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in Oil. It is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 47.10, from which one should expect an attempt to fall and develop a bearish tendency for a pair with a view to lower near the level of 44.00.
Ichimoku Kinko Hyo WTI forecast crude oil on May 11, 2017
Earlier, we received a weak signal for WTI Oil purchases, due to intersection of the signal lines at 46.34. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 47.90, indicating 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 45.10.
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