Technical analys of oil (Anton Hanzenko)
The oil of the main brands dropped significantly by the end of Monday, pending a decision on Iran’s nuclear deal, the results of which are expected today.
Brent chart (current price: $ 75.50)
The Brent adjusted after updating the maximum.
- Resistance 1: From $ 76.50 (technical level)
- Resistance 2: From $ 77.00 (psychological level)
- Support 1: From $ 75.00 (psychological level)
- Support 2: From $ 74.00 (technical level)
Computer analysis: The Stochastic Oscillator movings on the timeframe H4 moved to the neutral zone, indicating the development of correction.
WTI chart (current price: $ 70.4)
The WTI brand also fell under the correction after updating the annual maximum.
- Resistance 1: From $ 71.00 (psychological level)
- Resistance 2: From $ 71.50 (technical level)
- Support 1: From $ 69.50 (April maximum)
- Support 2: From $ 69.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings are in the neutral zone after correction, indicating the possibility of renewal of growth.