Quotes Oil WTI is trading at 48.22. Oil continues to move below the moving average with a period of 55, indicating a bearish trend for WTI Oil. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the upper border of the bands, where again we should expect an attempt to continue falling with the first goal near the level of 46.70.
Bollinger Bands forecast WTI on March 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 48.50. Canceling the option to continue falling WTI Oil will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotations above the 49.00 area, which will indicate 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 in the area below the level of 46.70.
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