Technical analys of oil (Anton Hanzenko)
Oil updated a maximum of three years on the waiting for the implementation of sanctions against Iran.
Brent chart (current price: $ 75.60)
The Brent is trading near a three-year high.
- Resistance 1: From $ 76.00 (psychological level)
- Resistance 2: From $ 76.50 (technical level)
- Support 1: From $ 75.00 (psychological level)
- Support 2: From $ 74.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the older timeframes remain in the overbought zone from the beginning of the day, as a result of which one should expect a correction or formation of a flat.
WTI chart (current price: $ 70.4)
The WTI also updated a three-year high.
- Resistance 1: From $ 71.00 (psychological level)
- Resistance 2: From $ 72.00 (psychological level)
- Support 1: From $ 69.00 (April maximum)
- Support 2: From $ 68.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings remain largely in overbought zone, which may indicate a correction or a flat.