Oil today: oil resumes decline
On Monday tradings, oil quotes remain under pressure of correction after the rapid growth on Friday, which was caused by the growth of optimism in the oil market. At the same time, the downward trend in March and the general downward dynamics of oil, which is traced from the beginning of February, remains in force, despite the decline in drilling activity in the US.
Such a decline in oil at the beginning of the week may indicate a renewal of the lows in March, which serves as a signal for oil sales. Also, the market’s attention remains focused on the data on oil production in the US and the OPEC report, which will come out in the week.
Recommended for reading: Technical analysis of oil and not only
- The nearest resistance levels (signals for the sale of oil): for WTI – 62.50 and 63.20 $ per barrel, for Brent – 65.50 and 66.10 $ per barrel.
- Support for the mark (signals to buy oil): for WTI – 60.80 and 60.00 $ per barrel, for Brent – 64.40 and 63.60 $ per barrel.
WTI brand Graph. Current price – $ 61.70
Brent brand Graph. Current price – $ 65.00
Ganzenko Anton