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 at the beginning of the week at the closing level of Friday, receiving support from Iran’s export reduction, but limited to growing risks in the market and the growth of drilling activity in the US.
Brent brand chart (current price: $ 72.70)
Brand Brent is limited to Friday highs, while maintaining the potential for growth.
- Resistance 1: From $ 73.00 (psychological level)
- Resistance 2: From $ 73.50 (technical level)
- Support 1: From $ 71.50 (technical level)
- Support 2: From $ 71.00 (psychological level)
Computer analysis: Movings Indicators forex Stochastic Oscillator arein the neutral zone, indicating a propensity to strengthen.
WTI brand chart (current price: $ 67.50)
The WTI brand also remains under pressure of correction against Friday, but retains the potential for growth, despite the growth of drilling activity in the US.
- Resistance 1: From $ 68.00 (technical maximum)
- Resistance 2: From $ 68.50 (psychological level)
- Support 1: From $ 66.50 (technical level)
- Support 2: From $ 66.00 (psychological level)
Computer analysis: Movings Indicators forex Stochastic Oscillator are in the oversold zone, limiting the possibility of correction.