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 traded downward at the beginning of the day on correction and data that OPEC oil production reached its annual high of 2018.
Brent brand chart (current price: $ 75.30)
Brand Brent started trading on Tuesday with a restrained correction on the break from the level of 75.50.
- Resistance 1: From $ 75.50 (technical level)
- Resistance 2: From $ 76.00 (psychological level)
- Support 1: From $ 74.50 (technical level)
- Support 2: From $ 74.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, but indicate a limited reduction.
WTI brand chart (current price: $ 69.70)
The WTI brand is also traded with a decrease on correction.
- Resistance 1: From $ 70.50 (technical maximum)
- Resistance 2: From $ 71.00 (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 neutral zone, confirming the formation of correction.