Technical Analysis of Oil (Alexander Sivtsov)
Oil shows negative dynamics during the Asian session.
The Brent brand graph (current price: $ 6338.50 per 100 barrels)
The Brent brand is trading below the zero mark during the Asian session.
- Resistance 1: From $ 6427.30 (December 1 maximum)
- Resistance 2: From $ 6500.00 (psychological level)
- Support 1: From $ 6200.00 (psychological level)
- Support 2: From $ 6100.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone. So, the formation of a consolidation of the Brent price is possible.
The WTI brand graph (current price: $ 5796.60 per 100 barrels)
The WTI brand is possible with a minus during the Asian session.
- Resistance 1: From $ 5900.00 (psychological level)
- Resistance 2: From $ 6000.00 (psychological level)
- Support 1: From $ 5676.40 (November 29 minimum)
- Support 2: From $ 5600.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone, so the consolidation of the WTI brand price is possible.