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 remains under the pressure from weak data on China and the expectation of an increase in oil inventories in the United States.
Brent brand chart (current price: $ 60.60)
The Brent brand is trading down for correction after growth associated with a reduction in trading risks. The pressure comes from expectations of growing US oil inventories and weak data for China.
- Resistance 1: From $ 61.50 (psychological level)
- Resistance 2: From $ 62.00 (psychological level)
- Support 1: From $ 60.00 (psychological level)
- Support 2: From $ 59.50 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone, indicating a limited decline.
WTI brand chart (current price: $ 56.30)
The WTI brand is trading down for correction, reinforced by the possibility of supply growth.
- Resistance 1: From $ 57.50 (psychological level)
- Resistance 2: From $ 58.00 (psychological level)
- Support 1: From $ 55.50 (psychological level)
- Support 2: From $ 55.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone, indicating a limited decline.