WTI Oil quotes are trading at 74.62 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 upper border of the Bollinger Bands indicator bars.
WTI weekly forecast on July 9 — 11, 2021
As part of the forecast WTI Oil is expected to test the level of 72.10 dollars per barrel. Where can we 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 80.50 dollars per barrel. The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 68.70 dollars per barrel.
Cancellation of the option to continue the fall in WTI Oil will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of oil quotations of the lower area of 63.50 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 July 9 — 11, 2021 implies a test level of 72.10 dollars per barrel. Further growth is expected to continue to the area below the level of 80.50 dollars per barrel. The conservative area for buying is located area of 68.70 dollars per barrel. The cancellation of the WTI Oil fall option will be a breakdown of the level of 63.50 dollars per barrel. In this case, we should expect a continuation of the fall.
