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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The oil market has returned to growth, despite China’s weak GDP data.
Brent brand chart (current price: $ 67.10)
Brand Brent maintains an upward trend on signs of decline in supply, but is limited to the highs of last week.
- Resistance 1: From $ 67.50 (psychological level)
- Resistance 2: From $ 68.00 (psychological level)
- Support 1: From $ 66.50 (psychological level)
- Support 2: From $ 66.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.
WTI brand chart (current price: $ 60.40)
The WTI brand is trading with strengthening, limited to Friday highs and attempts of correction.
- Resistance 1: From $ 61.00 (psychological level)
- Resistance 2: From $ 62.00 (psychological level)
- Support 1: From $ 59.00 (psychological level)
- Support 2: From $ 58.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating a limited decline.