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 show restrained growth after yesterday’s sell-off on the possibility of reviewing sanctions against Iran.
Brent brand chart (current price: $ 74.70)
Brand Brent is trading in the correction phase after the decline.
- Resistance 1: From $ 75.50 (technical level)
- Resistance 2: From $ 76.00 (psychological level)
- Support 1: From $ 74.00 (psychological level)
- Support 2: From $ 73.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone after the decline, thereby indicating a technical correction.
WTI brand chart (current price: $ 74.30)
The WTI brand also went to correction after the decline.
- Resistance 1: From $ 71.50 (psychological maximum)
- Resistance 2: From $ 72.00 (technical level)
- Support 1: From $ 72.00 (technical level)
- Support 2: From $ 71.20 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the zone of easy overbought, correcting after the decline.