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 the US oil inventories, according to EIA, which showed an increase in oil reserves for the seventh consecutive week, which heightened concerns about an increase in oil supply.
Brent brand chart (current price: $ 72.50)
Brent is trading with a slight strengthening of the correction after yesterday’s decline, while maintaining a restrained negative trend.
- Resistance 1: From $ 73.00 (psychological level)
- Resistance 2: From $ 73.50 (technical level)
- Support 1: From $ 71.50 (technical level)
- Support 2: From $ 71.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.
WTI brand chart (current price: $ 62.10)
The WTI brand also received support early in the day, but is limited to negative sentiment on the oil market.
- Resistance 1: From $ 63.00 (psychological maximum)
- Resistance 2: From $ 63.50 (technical level)
- Support 1: From $ 61.50 (technical level)
- Support 2: From $ 61.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.