WTI Oil quotes are trading at 53.16 dollars per barrel. Oil moves below the moving average with a period of 55. This indicates the bearish for WTI. At the moment, oil futures are moving near the border Bollinger Bands indicator strips.
WTI crude oil forecast and analysis on December 4, 2018
As part of the forecast WTI Oil is expected to test the level of 54.80 dollars per barrel. Where should we expect an attempt to continue the fall of Oil and the further development of the downward trend. The purpose of this movement is the area near the level of 47.70 dollars per barrel. Conserved region for sales is located close to the upper Bollinger Bands indicator strips border at 54.90 dollars per barrel.
Cancellation option of continuing Oil WTI will fall breakdown region of the upper Bollinger Bands indicator strips boundary. Also, the moving average with a period of 55 and closing quotation Oil field above 55.40 dollars per barrel. This will indicate a change in the current trend in favor of bullish on WTI. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
WTI crude oil forecast and analysis on December 4, 2018 implies a test level of 54.80 dollars per barrel. Further, it is expected to continue falling to the area below the level of 47.70 dollars per barrel. The conservative sales area is near the area of 54.90 dollars per barrel. The abolition of the WTI Oil fall option will be a breakdown of the level of 55.40 per barrel. In this case, we can expect continued growth.