Quotes Oil WTI traded at the level of 49.36. Oil continues to move below the moving average with a period of 55, indicating a bearish trend for WTI Oil. At the moment, oil quotes are testing the average border of the Bollinger Bands indicator bars. It is expected to test the upper border of the indicator strip, from which again we should expect an attempt to continue falling with the first target near level 48.10.
Bollinger Bands WTI crude oil prediction on April 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at the level of 50.50. The abolition of the option of continuing the fall of WTI Oil will be a breakdown of the upper range of the indicator bands, as well as a moving average with a period of 55 and the closing of oil quotes above the area of 51.70, indicating 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 the area below the level of 48.10.