WTI Oil quotes are trading at 56.89 dollars per barrel. Oil moves below the moving average with a period of 55. This indicates the bearish on WTI. At the moment, Oil quotes are moving near the middle border of the Bollinger Bands indicator stripes.
WTI crude oil forecast and analysis on November 22, 2019
As part of the WTI Oil forecast, a test level of 58.10 dollars per barrel is expected. Where should we expect an attempt to continue the fall of Oil and the further development of a downward trend. The purpose of this movement is the area near the level of 54.60 dollars per barrel. The conservative sales area is located near the upper border of the Bollinger Bands indicator strip at 58.20 dollars per barrel.
Cancellation of the option to continue the fall of WTI Oil will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and the closure of oil quotes above the area of 59.20 dollars per barrel. This will indicate a change in the current trend in favor of the bullish 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 November 22, 2019 suggests a test level of 58.10 dollars per barrel. Further, it is expected to continue falling to the area below the level of 54.60 dollars per barrel. The conservative sales area is near the area of 58.20 dollars per barrel. The abolition of the WTI Oil fall option will be the breakdown of the level of 59.20 dollars per barrel. In this case, we can expect continued growth.
