Technical analysis of oil (Dani Leviant)
The major brands started the week with a decline in correction after Friday’s growth. But against the backdrop of risk aversion and optimism after the OPEC meeting, oil is a very prospective asset.
Brent Brand Chart current price: $ 75.00)
Brand Brent restores positions on Friday’s close.
- Resistance 1: From $ 76.00 (psychological level)
- Resistance 2: From $ 76.50 (technical level)
- Support 1: From $ 74.50 (technical level)
- Support 2: From $ 74.00 (psychological level)
Computer analysis: Moving indicators of the forex Stochastic Oscillator are in the overbought zone, which can limit the growth of this brand at Friday’s highs.
WTI Brand Chart (current price: $ 69.00)
The WTI brand also strengthened early in the day, but is limited to overbought.
- Resistance 1: From $ 7000 (psychological maximum)
- Resistance 2: From $ 70.50 (technical level)
- Support 1: From $ 68.00 (psychological level)
- Support 2: From $ 67.00 (psychological level)
Computer analysis: Moving indicators of the forex Stochastic Oscillator are in the neutral zone, but limited to recent highs.