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 at the start of the day were supported on the data that two oil platforms were evacuated in the Gulf of Mexico because of the expectation of a hurricane.
Brent brand chart (current price: $ 78.70)
The Brent brand is trading with a strengthening on the growth of risks of a decline in oil production in the US.
- Resistance 1: From $ 79.00 (psychological level)
- Resistance 2: From $ 79.50 (technical level)
- Support 1: From $ 77.50 (technical level)
- Support 2: From $ 77.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, which may limit further growth.
WTI brand chart (current price: $ 70.70)
The WTI brand is also traded with significant strengthening on the risks associated with the possibility of interruptions in oil supplies from the Gulf of Mexico, due to weather conditions.
- Resistance 1: From $ 71.00 (psychological maximum)
- Resistance 2: From $ 71.50 (technical level)
- Support 1: From $ 70.00 (psychological level)
- Support 2: From $ 69.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, which limits growth.