Oil today: oil remains optimistic
At the auction on Friday, oil quotes remain optimistic in anticipation of data on drilling activity in the US. The reason for optimism in the oil market is caused by the expectation of an extension of the OPEC agreement on the limitation of world oil production. Also, after lowering oil prices on Wednesday, the market remains optimistic due to the consolidation above psychology of $ 60 per barrel of Brent crude oil. Overcoming this mark, will indicate the readiness of oil to break the general downward trend and enter the recovery phase.
Recommended for reading: https://esterholdings.com/en/category/tehnicheskij-analiz/ and https://esterholdings.com/en/2017/11/03/oil-current-news-15/
- The nearest resistance levels: for WTI – 55.00 and 55.50 $ per barrel, for Brent – 61.50 and 62.00 $ per barrel.
- Support levels are: for WTI – 54.50 and 54.00 $ per barrel, for Brent – 60.00 and 50.50 $ per barrel.
Hanzenko Anton