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 show a decline at the beginning of the day, which is caused by correction after yesterday’s growth.
Brent brand chart (current price: $ 74.40)
Brand Brent is traded under pressure of correction.
- Resistance 1: From $ 75.00 (psychological level)
- Resistance 2: From $ 75.50 (technical level)
- Support 1: From $ 74.00 (psychological level)
- Support 2: From $ 73.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone, indicating a limited correction.
WTI brand chart (current price: $ 67.70)
The WTI mark also went to correction, but is also limited to last week’s highs.
- Resistance 1: From $ 68.00 (psychological maximum)
- Resistance 2: From $ 68.50 (technical level)
- Support 1: From $ 67.00 (psychological level)
- Support 2: From $ 66.50 (technical level)
Computer analysis: Movings Indicators forex Stochastic Oscillator are in the oversold zone, which will limit the decline in the WTI brand.