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 on Friday show a moderate decline, despite the absence of obvious negative factors and the positive dynamics of stock indices. Reduction of oil in this case can be associated with a technical correction before the weekend and possible risks that remain on the market.
Brent brand chart (current price: $ 73.60)
The Brent brand traded in a lateral trend after a decline on Wednesday, thereby maintaining the potential for weakening.
- Resistance 1: From $ 75.00 (psychological level)
- Resistance 2: From $ 75.50 (technical level)
- Support 1: From $ 73.00 (psychological level)
- Support 2: From $ 72.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, remaining under pressure.
WTI brand chart (current price: $ 70.10)
The WTI brand remains at the opening level of the day, keeping the potential for decline.
- Resistance 1: From $ 71.00 (psychological maximum)
- Resistance 2: From $ 71.50 (technical level)
- Support 1: From $ 69.50 (technical level)
- Support 2: From $ 69.00 (psychological level)
Computer analysis: Movings Indicators forex Stochastic Oscillator are in the oversold zone, which may limit further decline of the asset.