Quotes of WTI crude oil traded at 54.09 dollars per barrel. Quotes are trading above the moving average with a period of 55, suggesting a rising trend for oil WTI. Conservative shopping area is located near the lower Bollinger Bands indicator strips border at 53.60 dollars per barrel.
Bollinger Bands WTI oil forecast on February 27, 2017
The purpose of growth is the area of the upper limit on the level of 55 dollars per barrel. With the breakdown of the area the upper limit of the bands is expected to accelerate the growth of quotations and price of oil. Cancellation option will increase the breakdown area 53.10 dollars per barrel, which indicates the potential change in favor of a downward trend.
