Brent crude oil is trading at $ 52.37 a barrel. Quotes for Oil broke through a moving average with a period of 55 and began to trade above its level, indicating a change in the trend in favor of the bull on Brent Oil. At the moment, quotes of oil test the upper boundary of the indicators Bollinger Bands. It is worth waiting for the attempt to decrease near the level of 51.70 and the test of the middle border of the bands, where again we should expect an attempt to continue growth with the first target near the level of 53.70.
Bollinger Bands Prediction Brent on March 30, 2017
The conservative buy area is near the lower border of the Bollinger Bands indicator strip at 55.50. The abolition of the option to continue the growth of Brent Oil will be a breakdown of the region of the lower border of the indicator and the closing of quotations below the area of 49.65, which will indicate a change in the trend in favor of the bearish on Oil Brent. In the case of continuing growth from current levels, it is expected to accelerate the growth of BRENT in the area above the level of 53.70.
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