Technical Analysis of Oil (Alexander Sivtsov)
Oil is trading near zero marks during the Asian session.
The Brent oil (current price: $ 6342.40 per 100 barrels)
Brent is trading just belowzero mark during the Asian session.
- Resistance 1: From $ 6500.00 (psychological level)
- Resistance 2: From $ 6600.00 (psychological level)
- Support 1: From $ 6200.00 (psychological level)
- Support 2: From $ 6100.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone. One should expect the continuation of consolidation of the Brent price.
The WTI oil (current price: $ 5692.50 per 100 barrels)
WTI is trading with a minus during the Asian session.
- Resistance 1: From $ 5900.00 (psychological level)
- Resistance 2: From $ 6000.00 (psychological level)
- Support 1: From $ 5577.60 (November 6 minimum)
- Support 2: From $ 5500.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone, so the price of the WTI can continue to move in a narrow range.
Alexander Sivtsov