Oil Technical Analysis (Alexander Sivtsov)

Oil is trading above the zero mark during the Asian session.

Brent (current price: $ 6119.9 per 100 barrels)

Brand Brent is trading above the zero mark during the Asian session.

Resistance 1: From $ 6200.00 (psychological level)
Resistance 2: From $ 6300.00 (psychological level)
Support 1: From $ 5989.30 (October 30 minimum)
Support 2: From $ 5930.40 (October 26 maximum)

Computer analysis: The Stochastic Oscillator movings on the D1 chart are still in the overbought zone. That is why there remains a possibility of a downward correction of the Brent price.

WTI (current price: $ 5477.1 per 100 barrels)

Brand WTI is trading with a plus during the Asian session.

Resistance 1: From $ 5600.00 (psychological level)
Resistance 2: From $ 5700.00 (psychological level)
Support 1: From $ 5288.00 (October 26 maximum)
Support 2: From $ 5,228.70 (October 27 minimum)

Computer analysis: The Stochastic Oscillator movings on the D1 chart are in the overbought zone. One should expect a reduction in the price of the WTI mark if the maximum is updated based on the data on oil reserves in the US.