Oil WTI completes the trading week at the level of 48.07 dollars per barrel. Oil WTI continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a downward trend in Oil. It is expected to test the area of signal lines near the level of 48.80, from which one should expect an attempt to fall and develop the bearish trend for Oil with a view to lower near the level of 43.60.
WTI forecast for the week on May 15 — 19, 2017
Earlier, a signal of medium strength was obtained for the sale of WTI Oil, due to the intersection of signal lines at the level of 50.60. The cancellation of the drop in oil quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 50.90, which indicates a change in the downward trend in favor of the upward. Expect to accelerate the fall in quotations WTI is with the breakdown of the local minimum area at 45.30.