Technical Analysis of Oil (Alexander Sivtsov)
Oil is traded below the zero mark in the Asian session.
The Brent graph (current price: $ 6459.10 per 100 barrels)
The Brent brand is traded with a minus during the Asian session.
- Resistance 1: From $ 6643.00 (February 6 minimum)
- Resistance 2: From $ 6755.80 (February 7 maximum)
- Support 1: From $ 6300.00 (psychological level)
- Support 2: From $ 6165.10 (February 13 minimum)
Computer analysis: The Stochastic Oscillator on the charts of H1 and H4 indicate oversold of the instrument. There may be some recovery in the price of Brent.
The WTI graph (current price: $ 6113.10 per 100 barrels)
The WTI brand is traded below the zero mark during the Asian session.
- Resistance 1: From $ 6250.10 (February 19 maximum)
- Resistance 2: From $ 6400.00 (psychological level)
- Support 1: From $ 5957.60 (February 15 minimum)
- Support 2: With $ 5860.00 (Support line of the Up Channel on H4)
Computer analysis: The Stochastic Oscillator movings on the charts of H1 and H4 indicate the oversold of the instrument, one should expect some growth in the price of WTI.