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 maintain growth, despite the growth of oil inventories in the United States. The reason for the strengthening of oil are the expectations of cuts in OPEC production.
Brent brand chart (current price: $ 67.40)
Brent brand is trading with a strengthening on the correction and the growth of optimism regarding the reduction of supply.
- Resistance 1: From $ 68.00 (psychological level)
- Resistance 2: From $ 68.50 (technical level)
- Support 1: From $ 66.50 (technical level)
- Support 2: From $ 66.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.
WTI brand chart (current price: $ 57.10)
WTI brand also shows growth in the correction, limited to data on oil inventories in the United States.
- Resistance 1: From $ 57.50 (technical maximum)
- Resistance 2: From $ 58.00 (psychological level)
- Support 1: From $ 56.00 (psychological level)
- Support 2: From $ 55.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.