Technical Analysis of Oil (Alexander Sivtsov)
Oil is traded near zero marks during the Asian session.
The Brent graph (current price: $ 6717.70 per 100 barrels)
The Brent brand is traded with a small minus during the Asian session.
- Resistance 1: From $ 6836.50 (February 5 maximum)
- Resistance 2: From $ 6915.00 (technical level)
- Support 1: With $ 6557.80 (February 23 minimum)
- Support 2: From $ 6500.00 (psychological level)
Computer analysis: According to the indicator forex MACD on the chart of H1 “Bearish divergence” persists, so there may be a slight decrease in the Brent price.
The WTI graph (current price: $ 6373.50 per 100 barrels)
The WTI brand is traded near the zero mark during the Asian session.
- Resistance 1: From $ 6500.00 (psychological level)
- Resistance 2: From $ 6600.00 (psychological level)
- Support 1: From $ 6226.50 (February 23 minimum)
- Support 2: From $ 6170.00 (MA 200 on H1)
Computer analysis: According to the indicator forex MACD on the chart of H1 the “bearish divergence” is forming, so the decrease in the price of WTI is expected.