Commoditi forecast/ OIL.WTI / Our expectations
Middle-term upwardtrend. The price reached and couldn't managed to break main horizontal resistance, and in the wake of that reversed it's short-term movement. Signal 1,2,3: Impulse- correction, impulse-correction. We must wait for the price to reach the short term resistance so we can trade the 3th movement. Technical indicator: CCI(50) - below 0 - the negative sentiment is still onpower. The price is below EMA 50, which is negative signal in short-term period.
Alternative scenario: If the price breaks above EMA 50 the formatio 1,2,3, will be dismissed as well as the negative scenario.
SL: 51.20
Trader Bozhidar Arabadzhiev
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