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 grow at the beginning of the day on EIA data on reduction oil inventories in the US and interruptions in oil supplies from Saudi Arabia because of the attack on tankers in the Red Sea.
Brent brand chart (current price: $ 74.60)
Brand Brent accelerated growth on the optimism of the market, thereby opening the way to weekly highs.
- Resistance 1: From $ 75.50 (technical level)
- Resistance 2: From $ 76.00 (psychological level)
- Support 1: From $ 73.50 (technical level)
- Support 2: From $ 73.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in a zone of easy overbought, which can limit further growth of oil.
WTI brand chart (current price: $ 68.40)
The WTI brand remains in a sideways trend, despite the reduction in oil reserves in the US according to the EIA.
- 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: Movings indicators forex Stochastic Oscillator are in the neutral zone, confirming the flat.