FX.co ★ 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.