Quotes of WTI crude oil are traded at the level of 49.40 dollars per barrel. At the moment the quotations continue to be traded at the lower level of the moving average with a period of 55, which implies the continuation of the development of a downward trend in oil. The purpose of the fall is the area at a level below $ 48 per barrel.
Bollinger Bands forecast WTI oil on March 16, 2017
The breakdown of this area will indicate the outflow of quotes beyond the lower boundary of the Bollinger Bands and the continuation of the decline. The abolition of the variant of development of the fall of oil will be the breakdown of the region at $ 50 per barrel, which will indicate a potential change in the trend in favor of the rising WTI oil.
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