Technical analysis of oil (Dani Leviant)
Forex indicators used in Technical analysis: MACD, RSI, Ichimoku Kinko Hyo, Equal-channel, Fibonacci lines, Price Levels.
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Oil quotes remain under pressure from the growth of supply on the increase in oil production.
Brent brand chart (current price: $ 74.20)
Brent is trading near two-month lows, keeping general downtrend.
- Resistance 1: From $ 75.00 (psychological level)
- Resistance 2: From $ 75.50 (technical level)
- Support 1: From $ 73.50 (technical level)
- Support 2: From $ 73.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, confirming the tendency to decline.
WTI brand chart (current price: $ 64.80)
The WTI brand also remains under pressure, despite a slowdown in the growth of the US oil inventories.
- Resistance 1: From $ 65.50 (technical maximum)
- Resistance 2: From $ 66.00 (psychological level)
- Support 1: From $ 64.50 (technical level)
- Support 2: From $ 64.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating the possibility of a decline.