Technical overview 16.04.18

WTI oil

The absence of any evident increase in the Middle East tensions following the missile strike on Syria by the US and the allies puts the oil prices under pressure, as it was the main stimulus for their growth lately.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is going down. Stochastic oscillators are also falling and entering the oversold territory.

Trading recommendations:

If the price falls below 66.5, it may go further down to 65.15.