Quotes Oil WTI traded at a level of 46.22 dollars per barrel. Oil moves above the moving average with a period of 55, indicating a bullish trend for WTI Oil. At the moment, oil quotes are moving near the upper boundary of the Bollinger Bands indicator strip. It is expected to test the average border of the Bollinger Bands indicator bars near the level of 45.20 dollars per barrel, where again we should expect an attempt to continue growth and further development of the upward trend in oil with the first target near the level of 47.85 dollars per barrel. An additional signal in favor of growth is the test of the support area.
Bollinger Bands forecast WTI crude on July 4, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at $ 43.88 per barrel. Canceling the option of continuing growth WTI Oil will be a breakdown of the moving average region with a period of 55, as well as the lower boundary of the Bollinger Bands indicator bars and the closing of oil quotes below the 42.95 dollar per barrel area, which will indicate a change in the trend in favor of the WTI bearish. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate growth.