Oil today: oil remains optimistic
On Tuesday, oil quotations are traded with strengthening on the general decline of the US currency and optimistic expectations from the meeting of OPEC representatives and the US oil producers in Houston. At the same time, there are no significant news regarding the results of the talks. Optimism still persists due to the preservation of oil production constraints in OPEC, which is fueled by IEA forecasts for rising oil demand.
The technical picture of oil, despite the continuing optimism, indicates a limited increase in oil prices, which in the future can cause a correction.
Recommended for reading: Technical Analysis of Oil
- The nearest resistance levels: for WTI – 63.50 and 64.00 $ per barrel, for Brent – 66.50 and 67.00 $ per barrel.
- Support levels: for WTI – 62.60 and 62.00 $ per barrel, for Brent – 65.50 and 65.00 $ per barrel.
Graph of WTI. Current price – $ 63.20
Graph of Brent. Current price – $ 66.00
Hanzenko Anton