WTI oil price forecast — May 23, 2016


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Quotes of WTI crude oil continued to fall in the rebound from the upper boundary of the triangle pattern on the indicator of relative strength.

WTI oil price forecast — May 23, 2016

WTI oil price forecast — May 23, 2016

At the moment, there is potential for further drop in oil prices to the lower boundary of the triangle. Where we can expect the start of the uptrend movement. In the case of penetration of the lower boundary of the triangle will be the target of the fall area below the level of 43 dollars per barrel. Cancellation option will drop the growth of quotations of oil above the level of 49 dollars per barrel. WTI oil price forecast — May 23, 2016 assumes a drop of oil quotations to the lower boundary of the triangle on the indicator RSI.

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