Quotes Oil WTI is trading at 50.08. Oil moves below the level of the moving average with a period of 55, indicating a bearish trend for WTI Oil. At the moment, oil quotes are moving towards the middle border of the Bollinger Bands indicator bars. It is expected to test the average border of the indicator bars, where again we should expect an attempt to continue falling with the first target near the level of 48.60.
Bollinger Bands forecast WTI on April 25, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at the level of 52.70. Canceling the option of continuing the fall WTI oil will be a breakdown of the moving average region with a period of 55, as well as the upper boundary of the indicator bars and the closing of oil quotes above the area of 53.20, which indicates a change in the trend in favor of the bull on WTI. In the event of a breakdown of the lower boundary of the indicator strip, it is expected to accelerate the fall of Oil to below the level of 48.60.