Oil today: oil quotations are traded with strengthening
On Thursday, oil prices remain near the three-year highs on the reduction of oil reserves in the US and the decline in oil production by Saudi Arabia. Also, support for oil quotations is provided by risks associated with the Middle East and the possibility of supply from the region. In addition to the fundamental factors pointing to the decline in oil reserves in the US, oil is supported by a very weak US currency and a growing demand for risky assets. At the same time, further growth of oil can be limited to its overbought.
Recommended for reading: Technical analysis of oil and not only.
- The nearest resistance levels (signals to sell oil): for WTI – 69.50 and $ 70.00 per barrel, for Brent -744.50 and $ 75.00 per barrel.
- Support for the mark (signals to buy oil): for WTI – 68.00 and 67.50 $ per barrel, for Brent – 73.00 and 72.50 $ per barrel.
Graph of WTI. Current price – 68.80 $
Graph of Brent. Current price – $ 73.90
Hanzenko Anton