01.06.202212:43 Forex Analysis & Reviews: Technical review for WTI: oil prices will bounce up

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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.

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