Technical analysis of oil (Dani Leviant)
The main oil brands at the Friday traiding were under pressure of correction after the rise and expectation of data on drilling activity in the US.
The Brent brand graph (current price: $ 76.90)
Brand Brent is trading with a decrease at the start of the day on the correction and growth of negative sentiment, limiting the downtrend channel.
- 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: The movings of the Stochastic Oscillator forex indicator are in the oversold zone, indicating the preservation of optimism for oil.
WTI brand graph (current price: $ 65.60)
The WTI brand also appeared under pressure of correction on the waiting for data on drilling activity in the US and flight of investors from risks.
- Resistance 1: From $ 65.50 (technical maximum)
- Resistance 2: From $ 67.00 (psychological level)
- Support 1: From $ 65.00 (psychological level)
- Support 2: From $ 64.50 (technical level)
Computer analysis: The movings of the Stochastic Oscillator forex indicator are in the oversold zone, indicating a limited reduction.