Technical analytics

WTI market technical outlook

WTI

Oil extended an active recovery of positions. As we see growth goes on the back of bullish pressure of ADX indicator, therefore we can get testing of the upper Bollinger band (32.82) shortly.

H4-chart:

Local break of the upper Bollinger band goes amid growth of ADX readings. This also suggests a definite bullish forecast for today.

H1-chart:

Buyers’ pressure is in place on all reviewed time-frames. We expect movement to 32.82 with high chances of attempt to break this resistance as well.

Expectations:

Growth to 23.82-33.00.

Trading recommendations:

Longs to 32.82-33.00.

 

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