WTI oil price forecast on November 28 — December 2, 2016


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Quotes of WTI crude oil ended the trading week at 46.61 dollars per barrel. Currently quotes continues to move through the formation of reversal pattern double top, which suggests an attempt to fall below $ 30 per barrel. However, this decline is important to see a breakdown of the support area at $ 40 per barrel.

WTI oil price forecast on November 28 — December 2, 2016

WTI oil price forecast on November 28 — December 2, 2016

In favor of the version of the fall and also acts as a reversal pattern forming head and shoulders, as we see, oil is traded at just the right shoulder-level model, which indicates that the fall already with the current levels. Cancellation option will reduce the prices of oil WTI strong growth above the level of $ 51 per barrel, which will point to the abolition of the Forex Double Top model and continue to develop upward correction.

WTI oil price forecast on November 28 — December 2, 2016 attempt involves falling in the rebound from the resistance line, and start working out a reversal pattern Forex Head and shoulders in order to reduce the area below the $ 35 per barrel.

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