Quotes Oil WTI traded at the level of 61.82 dollars per barrel. Oil moves above the moving average with a period of 55, indicating a bullish trend for WTI Oil. At the moment, oil quotes are moving near the upper boundary of the Bollinger Bands indicator bars. A test of the level of 61.30 dollars per barrel is expected, where again we should expect an attempt to continue growth and further development of the upward trend for oil near the level of 63.70 dollars per barrel.
WTI crude oil forecast and analysis on January 5, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at the level of 59.40 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 58.70 dollars per barrel, which will indicate a change in the trend in favor of the bearish 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.