empty
 
 
01.06.2022 12:43 PM
Technical review for WTI: oil prices will bounce up

Oil prices managed to stay above 115.00 and are showing upward dynamics even despite the continued high demand, military conflict in Ukraine and sanctions given by the West.

Technical picture:

The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) has rebounded from the 50% level and is growing, while the stochastic indicator is turning up in the oversold zone.

Possible dynamics:

A consolidation above 115.45 will provoke a further growth to 119.00.

This image is no longer relevant

Pati Gani,
Analytical expert of InstaForex
© 2007-2025
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback