Quotes Oil WTI traded at the level of 50.92 dollars per barrel. Oil moves above the moving average with a period of 55, indicating a bullish trend for Oil WTI. At the moment, oil quotes are moving near the upper boundary of the Bollinger Bands indicator bars. Expected level of 50.40 dollars per barrel test, where again we can expect an attempt to continue the growth and further development of the upward trend of Oil near the level of 52.40 dollars per barrel.
WTI crude oil forecast and analysis on October 12, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 48.70 dollars per barrel. Canceling the option of continuing growth Oil WTI will be a breakdown of the moving average region with a period of 55, as well as the lower border of the Bollinger Bands indicator bars and the closing of oil quotes below the area of 48.30 dollars per barrel, which indicates 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.