Technical analys of oil (Anton Hanzenko)
Oil accelerated growth on the positive dynamics of stock indices and the possibility of increasing geopolitical risks.
Brent chart (current price: $ 78.10)
The Brent is restrained at the beginning of the day, maintaining optimism after yesterday’s growth.
- Resistance 1: From $ 79.50 (technical maximum)
- Resistance 2: From $ 80.00 (psychological level)
- Support 1: From $ 78.50 (technical level)
- Support 2: From $ 78.00 (psychological level)
Computer analysis: The forex Stochastic Oscillator movings are in overbought, but the restrained movement of oil will return it to the neutral zone.
WTI chart (current price: $ 71.00)
The WTI brand is also traded with a weak strengthening, thereby adjusting itself after growth.
- Resistance 1: From $ 72.00 (psychological level)
- Resistance 2: From $ 72.50 (technical level)
- Support 1: From $ 71.00 (psychological level)
- Support 2: From $ 70.50 (May 16 minimum)
Computer analysis: The Stochastic Oscillator movings are in the neutral zone and indicate the unloading of the indicator before growth.