Oil Brent completes the trading week at 55.39 dollars per barrel. Quotes for Oil are traded above the average with a period of 55, which indicates the existence of a bullish trend for Brent Oil. At the moment, quotes of Brent Oil are traded above the upper border of the Bollinger Bands indicator bars. It is worth expecting a slight correction to the moving average with a period of 55 near the level of 53.90, where we can expect an attempt to continue growth with the first goal near the level of 58.50.
Bollinger Bands Brent prediction on April 10 — 14, 2017
The conservative shopping area is located near the lower border of the Bollinger Bands indicator strip at the level of 50.20. The abolition of the option of continued growth of Brent Oil will be a breakdown of the lower border area, as well as the moving average and the closing of oil quotes below the area of 48.10, which will indicate a change in the trend in favor of the bearish on Oil Brent. In the event of breakdown of the upper border of the indicator bars, we should expect the growth of Brent to accelerate to an area above the level of 58.50 dollars per barrel.
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