Technical analysis of oil (Dani Leviant) - Ester Holdings

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 traded with a strengthening on the growth of optimism associated with the growth of stock indices and the possibility of weakening the trade confrontation between the United States and China. Also it is worth noting the API data on US oil inventories, which showed a decrease in US oil inventories.

Brent brand chart (current price: $ 56.80)


Brent shows growth on general optimism, limited to the downward trend of recent months.

  • Resistance 1: From $ 58.00 (psychological level)
  • Resistance 2: From $ 59.00 (psychological level)
  • Support 1: From $ 56.00 (psychological level)
  • Support 2: From $ 55.00 (psychological level)

Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.

WTI brand chart (current price: $ 47.80)


The WTI brand also received support while maintaining the overall trend.

  • Resistance 1: From $ 49.00 (psychological level)
  • Resistance 2: From $ 50.00 (psychological level)
  • Support 1: From $ 46.50 (technical level)
  • Support 2: From $ 45.00 (psychological level)

Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.

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