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.
