Oil Technical Analysis (Alexander Sivtsov)
Oil is trading above the zero marks in the Asian session.
Brent (current price: $ 5765.8 per 100 barrels)
Make Brent is trading above the zero mark in the Asian session.
- Resistance 1: from $ 5822.60 (maximum of September 28)
- Resistance 2: from $ 5891.10 (maximum of September 26)
- Support 1: from $ 5700.00 (psychological level)
- Support 2: from $ 5578.20 (minimum of October 12)
Computer analysis: The behaviour of the Stochastic Oscillator indicator on the price chart of D1 are included in the reselling zone, against which it is expected to reduce the Brent price in the next few days.
WTI (current price: $ 5211.5 per 100 barrels)
Make WTI is trading with a plus in the Asian session.
- Resistance 1: from $ 5,290.70 (maximum of September 28)
- Resistance 2: from $ 5400.00 (psychological level)
- Support 1: from $ 5065.00 (MA 200 to H1)
- Support 2: from $ 5000.00 (psychological level)
Computer analysis: Just like the Brent make, on the D1 chart, the Stochastic Oscillator behaviors are in the overbought zone, and therefore the WTI make price should be expected to decrease in the odd come shortly.