FX.co ★ Technical review for WTI: price may increase

Oil is rallying, thanks to growing demand for energy and OPEC's latest policy. There is a high chance that this bullish trend will continue this week.

technical picture:

The quote is above the middle line of the Bollinger indicator, below the SMA 5, but above the SMA 14. The relative strength index (RSI) is above 50% and is indicating a reversal, while the stochastic indicator is moving down .

Possible dynamics:

A rise above 110.80 will lead to further increase to 115.75.