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 keep optimistic dynamics, thereby trading unidirectionally on the expectation of a reduction in oil reserves in the US and the growth of optimism on the market.
Brent brand chart (current price: $ 78.60)
The Brent brand traded near the July highs at a lower supply and overall optimism on the market.
- 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 overbought zone, indicating the limited growth and safety of the downward dynamics.
WTI brand chart (current price: $ 74.30)
The WTI brand also grew on strengthening the optimism on the market, but is limited to weekly highs.
- Resistance 1: From $ 75.00 (psychological maximum)
- Resistance 2: From $ 75.50 (technical 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 overbought zone, limited to recent highs.