Oil prices are likely to fluctuate on the floor and ceiling of Bollinger Bands and are forming a triangle pattern.
Also, in the stochastic market indicator, the formation of the double bottom pattern can be seen, and it seems that the price will be well supported at this point.
Due to the current situation, the price of oil will return to the middle line of Bollinger Bands for a short period of time and can grow again with more strength and reach $ 40.
Usually when a bearish triangle pattern forms, a negative trend begins at the end of the triangle, the price return may take some time in the medium term.
