Oil today: oil is under pressure of correction
On Friday, oil quotations remain under pressure of correction after growth on Thursday. The decline in oil prices is caused by the growth in oil production in the United States and the rapid resumption of the pipeline in the North Sea. Despite this, the overall dynamics of oil remains ascendant and is trading near the two-year highs. At the same time, oil quotes retain their potential for strengthening.
Recommended for reading: Technical Analysis
- The nearest resistance levels: for WTI – 58.60 and 59.00 $ per barrel, for Brent – 65.00 and 65.60 $ per barrel.
- Support levels: for WTI – 57.60 and 57.00 $ per barrel, for Brent – 64.00 and 63.50 $ per barrel.
WTI chart, current price – $ 58.00
Brent chart, current price – 64.70 $
Hanzenko Anton