WTI crude is trading at the level of 42.50 dollars per barrel. Quotes of oil are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for oil WTI. At the moment, oil quotes WTI are moving near the lower boundary of the bands of the Bollinger Bands indicator. It is worth waiting for the test of the average border near the level of 44, from which one should expect an attempt to continue falling with the first target at $ 40 per barrel.
WTI forecast crude oil prices on June 22, 2017
The conservative area for sales of WTI is located near the upper boundary of the Bollinger Bands indicator strip at the level of 45.90. Canceling the option of continuing WTI oil growth will be a breakdown of the upper border area, as well as the moving average and the closing of oil quotes above the area of 46.40, which will indicate a change in the trend in favor of the bearish on Oil. In the event of a breakdown of the lower border of the indicator bars, it is expected to accelerate the fall of WTI in the area above level 40.