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 after growth earlier on EIA data on the decline in gasoline and distillate stocks in the US. At the same time, risks remain, as indicated by the general increase in crude oil and mining in the US.
Brent brand chart (current price: $ 72.50)
The Brent brand is trading with a slight decrease, on resistance to significant resistance.
- Resistance 1: From $ 73.00 (psychological level)
- Resistance 2: From $ 74.00 (psychological level)
- Support 1: From $ 71.00 (psychological level)
- Support 2: From $ 70.50 (technical level)
Computer analysis: Moving indicators of the Stochastic Oscillator forex in the zone of easy overselling, indicating the continued optimism in the market.
WTI brand chart(current price: $ 68.50)
The WTI brand also declined at the beginning of the day on correction after growth.
- Resistance 1: From $ 69.50 (technical maximum)
- Resistance 2: From $ 70.00 (psychological level)
- Support 1: From $ 67.50 (psychological level)
- Support 2: From $ 67.00 (psychological level)
Computer analysis: Moving indicators of the Stochastic Oscillator forex in the neutral zone, indicating a limited reduction, but the brand remains in a downtrend.