Technical analys of oil (Anton Hanzenko)
Oil maintains an upward trend due to the reduction of oil reserves and the anticipation of sanctions against Iran.
Brent chart (current price: $ 77.70)
The Brent has updated the maximum of recent years in anticipation of sanctions against Iran.
- Resistance 1: From $ 78.00 (psychological level)
- Resistance 2: From $ 78.50 (technical level)
- Support 1: From $ 77.00 (psychological level)
- Support 2: From $ 76.50 (technical level)
Computer analysis: The Stochastic Oscillator movings are in the phase of correction, unloading overbought after growth.
WTI chart (current price: $ 71.60)
The WTI brand is also trading with the strengthening, limited to overbought.
- Resistance 1: From $ 72.00 (psychological level)
- Resistance 2: From $ 72.50 (technical level)
- Support 1: From $ 71.50 (April maximum)
- Support 2: From $ 70.50 (psychological level)
Computer analysis: The Stochastic Oscillator movings exit from the overbought zone on correction.