Quotes of WTI crude oil continues moving inside the descending channel. At the moment, there is a potential for a fall of oil quotations and update the area for a local minimum. Cancellation option will be a strong increase in WTI quotes above the level of 47 dollars per barrel; in this case, we can expect an attempt to continue the upward trend of oil in the area above the level of 50 dollars per barrel.
WTI crude oil forecasts and analyst on November 14, 2016
But do not rule out an attempt to test the upper boundary of the channel, where the sale of oil should be considered.
WTI crude oil forecasts and analyst on November 14, 2016 suggests an attempt to continue falling in the framework of processing downlink forex 1: 1 model in order to reduce the area below 42 dollars per barrel.