WTI crude oil forecast and analysis on August 22, 2019

WTI Oil quotes are trading at 56.72 dollars per barrel. Oil moves below the moving average with a period of 55. This indicates the bullish for WTI. At the moment, Oil quotes are moving near the upper border of the Bollinger Bands indicator stripes.

WTI crude oil forecast and analysis on August 22, 2019

As part of the WTI Oil forecast, a test level of 56.20 dollars per barrel. Where should we expect an attempt to continue the growth of Oil and the further development of an upward trend. The purpose of this movement is the area near the level of 59.20 dollars per barrel. The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 54.50 dollars per barrel.

WTI crude oil forecast and analysis on August 22, 2019

Cancellation of the option to continue the fall of WTI Oil will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closure of oil quotes of the lower region of 52.80 dollars per barrel. This will indicate a change in the current trend in favor of a bearish for WTI. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.

WTI crude oil forecast and analysis on August 22, 2019 implies a test level of 56.20 dollars per barrel. Further, growth is expected to continue to the area below the level of 59.20 dollars per barrel. The conservative buying area is located is near the area of ​​54.50 dollars per barrel. The cancellation of the WTI Oil fall option will be a breakdown of the level of 52.80 dollars per barrel. In this case, we should expect continued fall.


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