Quotes of WTI oil has shown significant growth, however, has at the moment there is a potential for the development of correction to below $ 47 per barrel.
WTI oil price forecast – May 18, 2016
The signal in favor of the fall is the test of the descending trend line on the indicator of relative strength, which provides for WTI quotes drop since the current levels. We try to sell oil with a close stop. Cancellation option will drop WTI strong growth of oil above the level of 49 dollars per barrel. Thus, WTI oil price forecast – May 18, 2016 suggests an attempt to fall in the rebound from the resistance line on the indicator of relative strength.
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