Quotes of WTI crude oil continues to trade on the local resistance level and at the moment there is a potential for the development of oil quotations drop to below $ 47 a barrel within the mining reversal pattern Forex Head and Shoulders. Also, do not forget the beginning of the descending pattern Wolfe waves for the purpose of falling below the level of 42 dollars per barrel.
Oil WTI forecasts and analysis on October 25, 2016
Cancellation option will drop the strong growth of quotations and sample region 53 dollars per barrel, which will point to continued growth. In favor of the fall and also acts breakdown ascending trend line on the indicator of relative strength.
Oil WTI forecasts and analysis on October 25, 2016 suggests an attempt to fall within the beginning of working out a bearish wave Wolfe with a potential target of the fall below the level of 42 dollars per barrel.
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