Quotes of WTI crude oil traded at 53.46 dollars per barrel. Oil continues to move below the moving average with a period of 55, suggesting a downward trend. At the moment, we can expect a tight test of the moving average and continuing WTI falling oil prices.
Bollinger Bands WTI oil forecast on March 6, 2017
The first goal of the fall is the area on the level below 52.55 dollars per barrel. Conservative area for oil sales is at the upper end of the indicator strips near the region of US $ 54.55 per barrel, a break of this level will indicate a potential change of the trend in favor of growth. Expect accelerating fall in oil prices is a breakdown field of 52.55 dollars per barrel.
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