Quotes of WTI crude oil continued tight test the upper limit of the bearish Wolfe wave model with the potential to reduce the level of $ 44 per barrel. At the moment, there is the potential for the growth of quotations of oil in the area above the level of 52.20 dollars per barrel.
WTI crude oil forecasts and analyst on December 8, 2016
Even on the level of 52.20 is to try new sales and expect the downward trend with the immediate goal of the fall in the level of 49 dollars per barrel. Cancellation option will drop strong growth WTI quotes and update the area of a local maximum. An additional signal for the continuation of the fall will be a test of the descending trend line on the indicator of relative strength.
WTI crude oil forecasts and analyst on December 8, 2016 assumes the completion of the formation of topping forex model and began to fall under the mining bearish Wolfe wave model.
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