WTI Oil quotes are trading at 53.82 dollars per barrel. Oil moves below the moving average with a period of 55. This indicates the bearish tendency for WTI Oil. At the moment, oil prices move near the bottom of the Bollinger Bands indicator bands.
WTI crude oil forecast and analysis on November 23, 2018
The WTI oil forecast is expected to test at 55.60 dollars per barrel. Where to expect an attempt to continue the fall of oil and the further development of the downward trend. The purpose of such a movement is the region near the level of 49.40 dollars per barrel. The conservative sales area is located near the upper boundary of the Bollinger Bands indicator at 58.30 dollars per barrel.
Canceling the option of continuing the fall of WTI Oil will break the area of the upper boundary of the Bollinger Bands. And also the moving average with the period 55 and the closing of oil prices above the area of 59.00 dollars per barrel. This will indicate a change in the current trend in favor of bullish on WTI. In case of breakdown of the lower boundary of the Bollinger Bands, it is expected to accelerate the fall.
WTI crude oil forecast and analysis on November 23, 2018 implies a test level of 55.60 dollars per barrel. Further, it is expected to continue falling to an area below 49.40 dollars per barrel. Conservative sales area is near the area of 58.30 dollars per barrel. A drop of 59.00 dollars per barrel will break the WTI oil drop. In this case, it is expected to continue growth.
