Quotes of WTI crude oil continues to trade within the descending Forex Wolfe Wave patterns in order to reduce the area below 42 dollars per barrel. As you can see, prices of oil broke through the border of support and at the moment there is the potential to see the continuation of the decline to the nearest support in the form of a rising channel’s lower border.
Oil WTI forecast and analyst on October 28, 2016
Cancellation option will be a strong growth of quotations of oil and WTI prices above the level of 52 dollars per barrel.
Oil WTI forecast and analyst on October 28, 2016 suggests an attempt to continue the reduction in the framework of the descending wave pattern Wolfe, but the support area located at the level of 48 dollars per barrel, since a breakdown is expected to continue decline to 42 dollars per barrel.
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