Oil today: oil remains in a sideways trend
On Thursday, oil quotes are traded with a slight strengthening after yesterday’s flat and rising optimism about oil. At the same time, oil prices remain squeezed in the side channel near the multi-year highs. Oil receives support from the expectation of introducing new sanctions against Iran, which increases optimistic expectations about oil and lower supply surplus.
Recommended for reading: Technical analysis of oil and not only
- The nearest resistance levels (signals to sell oil): for WTI – 69.00 and 69.50 $ per barrel, for Brent -75.00 and 75.50 $ per barrel.
- Support levels are (signals to buy oil): for WTI – 67.50 and 67.00 $ per barrel, for Brent – 73.50 and 73.00 $ per barrel.
Hanzenko Anton