Quotes Oil WTI traded at the level of 68.75 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 testing the upper boundary of the Bollinger Bands indicator bars. A test of the level of 68.20 dollars per barrel is expected, where again we should expect an attempt to continue growth and further development of the upward trend for oil near the level of 71.20 dollars per barrel.
WTI crude oil forecast and analysis on June 26, 2018
The conservative area for buying is located near the middle border of the Bollinger Bands indicator strip at the level of 66.30 dollars per barrel. Cancellation option of continued growth of WTI crude oil will breakdown field moving average with period 55, as well as the boundaries of the middle Bollinger Bands indicator strips and closing quotes Oil field below 64.30 dollars per barrel, which will indicate the shift in favor of a bearish trend for WTI. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.