Quotes Oil WTI traded at the level of 45.42 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 middle border of the Bollinger Bands indicator bars. A correction to the moving average near the level of 45.37 dollars per barrel is expected, where again we should expect an attempt to continue growth and further development of the upward trend in oil near the level of 47.65 dollars per barrel. An additional signal in favor of growth is the test of the support area.
Bollinger Bands forecast WTI on July 6, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at $ 45.02 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 area of 43.80 dollars per barrel, 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.