WTI Oil quotes are trading at 91.34 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 bands.
WTI weekly forecast on February 7 — 11, 2022
As part of the WTI Oil forecast, a test of the level of 85.10 dollars per barrel is expected. Where should we expect an attempt to continue the growth of Oil and the further development of an upward trend. The target of this movement is the area near the level of 101.20 dollars per barrel. The conservative area for buying is located near the lower border of the Bollinger Bands indicator at 79.20 dollars per barrel.
Cancellation of the option to continue the fall of WTI Oil will be a breakdown of the area of the lower border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and the closing of the oil quotes of the lower area of 76.50 dollars per barrel. This will indicate a change in the current trend in favor of the bearish for WTI. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.
WTI weekly forecast on February 7 — 11, 2022 implies a test level of 85.10 dollars per barrel. Further growth is expected to continue to the area below the level of 101.20 dollars per barrel. The conservative area for buying is located area of 79.20 dollars per barrel. Cancellation of the option of falling WTI Oil will be a breakdown of the level of 76.50 dollars per barrel. In this case, we should expect the continuation of the fall.
