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 data on the growth of US oil reserves from the EIA and the expectation of China’s response to new US duties.
Brent brand chart (current price: $ 77.30)
The Brent brand is trading slightly below the opening level of the day, keeping downward dynamics.
- Resistance 1: From $ 78.50 (technical level)
- Resistance 2: From $ 79.00 (psychological level)
- Support 1: From $ 76.50 (technical level)
- Support 2: From $ 76.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, confirming the downward dynamics.
WTI brand chart (current price: $ 73.10)
The WTI brand remains under pressure from an increase in US oil reserves and possible risks.
- Resistance 1: From $ 74.50 (technical maximum)
- Resistance 2: From $ 75.00 (psychological level)
Support 1: From $ 72.50 (technical level) - Support 2: From $ 72.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, forming an upward correction.