WTI Oil quotes are trading at 53.62 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 middle border of the Bollinger Bands indicator bars.
WTI crude oil forecast and analysis on January 31, 2019
As part of the WTI Oil forecast, a test of 52.50 dollars per barrel is expected. Where to expect an attempt to continue the growth of oil and the further development of the upward trend. The purpose of this movement is the area near the level of 56.80 dollars per barrel. The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 51.70 dollars per barrel.
Cancellation of the option to continue the fall of WTI Oil will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closure of oil quotations of the lower area of 50.30 dollars per barrel. This will indicate a change in the current trend in favor of a bearish for 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 January 31, 2019 implies a test level of 52.50 dollars per barrel. Further growth is expected to continue to the area below 56.80 dollars per barrel. The conservative buying area is located is near the area of 51.70 dollars per barrel. The cancellation of the WTI Oil fall option will be a breakdown of the level of 50.30 dollars per barrel. In this case, we should expect the continuation of the fall.
