Quotes of WTI crude oil continues to trade on the level of resistance, and at the moment has the potential to fall under the mining model bearish Wolfe wave with a potential target falls below 41 dollars per barrel level. Cancellation option quotes and falling prices of WTI will be strong growth above the level of $ 53 per barrel.
Oil WTI forecasts and analysis on October 26, 2016
In favor of the beginning of the fall also supports the formation of reversal pattern Forex Head and Shoulders and breakdown support level is expected to attempt to continue falling with the first target at the level below the area of $ 47 per barrel. An additional signal in favor of the fall will test the descending trend line on the indicator of relative strength.
Oil WTI forecasts and analysis on October 26, 2016 requires completion of forex reversal patterns and the beginning of fall in the framework of working out a bearish Wolfe wave model.
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