Quotes Oil WTI traded at the level of 48.80 dollars a barrel. Oil moves below the level of the moving average with a period of 55, indicating a bearish 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 49.50 dollars a barrel, from which one should expect an attempt to continue the fall and further development of the downward trend for Oil WTI near the level of 45.90 dollars a barrel.
WTI crude oil forecast and analysis on August 14, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 50.20 dollars a barrel. The abolition of the option of continuing the fall of the oil will be a breakdown of the upper border of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair’s quotations above the 51.10 dollars a barrel, which indicates a change in the trend in favor of the bullish on Oil WTI. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.