Quotes Oil WTI traded at a level of 48.60 dollars a barrel. WTI 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 49.30 dollars a barrel, from which one should expect an attempt to continue the fall and further development of the downtrend on Oil WTI near the level of 45.15 dollars a barrel.
WTI crude oil forecast and analysis on August 15, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 50.10 dollars a barrel. The abolition of the option of continuing the fall of the Oil WTI will be a breakdown of the upper boundary of the Bollinger Bands indicator strips, as well as a moving average with a period of 55, and the closing of the pair’s quotations above 51.20 dollars a barrel, which indicates a change in the trend in favor of the bullish on 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.