WTI Oil quotes are trading at dollars per barrel. Oil moves below the moving average with a period of 55. This indicates a bearish trend for WTI Oil. At the moment, Oil quotes are moving near the lower border of the Bollinger Bands indicator stripes.
WTI weekly forecast on March 9 — 13, 2020
As part of the WTI Oil forecast, a test of 46.30 dollars per barrelis 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 32.90 dollars per barrel. The conservative sales area is located near the upper border of the Bollinger Bands indicator strip at 55.70 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 60.20 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 acceleration of the fall.
WTI weekly forecast on March 9 — 13, 2020implies a test level of 46.30 dollars per barrel. Further, it is expected to continue falling to the area below the level of 32.90 dollars per barrel. The conservative sale area is located is near the area of 55.70 dollars per barrel. The cancellation of the WTI Oil fall option will be a breakdown of the level of 60.20 dollars per barrel. In this case, we should expect continued growth.
