Oil today: oil remains under pressure of correction
On Wednesday, oil quotations remain under pressure of correction and growth of pessimism due to the negative dynamics of European stock indices. The pressure on oil is on the part of fears caused by the increase in oil production in the US, which continues to grow, approaching the world’s mining leaders. Therefore, the market’s attention is focused on upcoming data on oil production and reserves in the US, which will be released later this week.
Recommended for reading: Technical Analysis
- The nearest resistance levels: for WTI – 64.00 and 64.50 $ per barrel, for Brent – 69.50 and 70.00 $ for barrel.
- Support levels are: for WTI – 63.00 and 62.50 $ per barrel, for Brent – 68.50 and 68.00 $ per barrel.
WTI chart, current price – $ 63.50
Brent chart, current price – 68.80 $
Hanzenko Anton