Quotes of WTI crude oil continues to trade within the mining model bearish Wolfe wave with the potential to reduce the level below the area of $ 41 per barrel. Cancellation option will increase in quotes above the strong level of 53 dollars per barrel, which will point to the potential continuation of the growth of WTI crude oil prices.
Oil WTI and analyst forecasts on October 27, 2016
As you can see, the quotes have already broken through the support area, which also is in favor of continuing decline.
Oil WTI and analyst forecasts on October 27, 2016 suggests an attempt to fall within the beginning of working out a bearish Wolfe wave model with a view to the area below 41 dollars per barrel.
