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 is trading slightly below the opening of the day at the beginning of the week, due to the resumption of oil supplies from Libya and weak data on China. Also, the oil market is very reserved before the meeting of the leaders of the US and Russia and the expectation of an increase in oil production in Russia.
Brent brand chart (current price: $ 74.90)
Brand Brent is trading slightly below the opening of the day, limited to the trading range of Friday.
- Resistance 1: From $ 75.00 (psychological level)
- Resistance 2: From $ 75.50 (technical level)
- Support 1: From $ 74.00 (psychological level)
- Support 2: From $ 73.00 (technical level)
Computer analysis: Movings Indicators forex Stochastic Oscillator are in the neutral zone, retaining the potential to strengthen.
WTI brand chart (current price: $ 70.50)
The WTI brand also remains at the level of opening the day, keeping the potential for a decline.
- Resistance 1: From $ 71.50 (technical maximum)
- Resistance 2: From $ 72.00 (psychological level)
- Support 1: From $ 69.00 (psychological level)
- Support 2: From $ 68.50 (technical level)
Computer analysis: Movings Indicators forex Stochastic Oscillator are in the zone of easy overselling, which can limit further decline of the asset.