Technical analysis of oil (Dani Leviant)
Forex indicators used in Technical analysis: MACD, RSI, Ichimoku Kinko Hyo, Equal-channel, Fibonacci lines, Price Levels.
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Oil quotes remain under pressure from fears related to an increase in supply in the oil market.
Brent brand chart (current price: $ 76.90)
Brent brand is trading near the opening level of the day, limited to the downward trend and the risks of growth in supply.
- Resistance 1: From $ 78.00 (technical level)
- Resistance 2: From $ 78.50 (psychological level)
- Support 1: From $ 76.50 (psychological level)
- Support 2: From $ 76.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating a limited decline.
WTI brand chart (current price: $ 66.70)
The WTI brand is also trading lower, limited to the downtrend and the expectation of rising US oil reserves.
- Resistance 1: From $ 68.00 (psychological maximum)
- Resistance 2: From $ 68.50 (technical level)
- Support 1: From $ 66.00 (psychological level)
- Support 2: From $ 65.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone, indicating a limited decline.