Quotes Oil WTI traded at the level of 47.12 dollars per barrel. Oil moves above the moving average with a period of 55, indicating a bullish trend for Oil WTI. At the moment, oil quotes are moving near the middle border of the Bollinger Bands indicator strip. An insignificant correction is expected near the level of 46.10 dollars per barrel, where again we should expect an attempt to continue growth and further development of the upward trend in Oil WTI near the level of 49.00 dollars per barrel.
Bollinger Bands forecast WTI on July 20, 2017
The conservative buying is near the lower border of the Bollinger Bands indicator strip at 45.90 dollars per barrel. Canceling the option of continuing growth WTI Oil will be a breakdown of the moving average region with a period of 55, as well as the lower boundary of the Bollinger Bands indicator bars and the closing of oil quotes below the area of 45.10 dollars per barrel, indicating a change in the bearish trend for WTI. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.