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 continue to trade in positive territory, maintaining yesterday’s optimism caused by the strengthening of stock indices, completely ignoring the possibility of increasing US oil inventories.
Brent brand chart (current price: $ 76.70)
Brent brand is trading near the upper boundary of the downward channel on the growth of optimism, while adjusting after a decline.
- Resistance 1: From $ 77.50 (technical level)
- Resistance 2: From $ 78.00 (psychological level)
- Support 1: From $ 76.00 (psychological level)
- Support 2: From $ 75.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.
WTI brand chart (current price: $ 66.70)
The WTI brand also moved to growth, despite the expectation of an increase in US oil inventories.
- Resistance 1: From $ 67.50 (technical maximum)
- Resistance 2: From $ 68.00 (psychological 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 overbought zone, indicating the limited growth.