Oil prices are rising because investors believe that demand will remain strong even amid a slowdown in the global economy.
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) is below the overbought zone, while the stochastic indicator remains within it.
Possible dynamics:
Growth and consolidation above 116.35 after a slight decline will lead to an increase to 118.60.
