Technical analytics

WTI market technical outlook

WTI

Daily chart:

Tendency for a flat around the middle Bollinger band (39.61-40.42) remains in place for the second consecutive week. At the same time bulls are managing to close above the middle band keeping chances for a mid-term growth to 42.24.

 

H4-chart:

Local potential of ADX is almost at a zero level, therefore trading range will remain confined within the Bollinger bands (39.45-41.00).

 

H1-chart:

Intraday volatility most likely won’t exceed $1: trading range is 40.00-40.75 (Bollinger bands). Signals of ADX activity are absent here as well.

 

Conclusions: 

Flat in the 40.00-40.75.

Trading recommendations:

Short-term trades in the 40.00-40.75 range.

 

 

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