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 is traded at the opening day after restrained growth on Monday. The reason for the strengthening of oil prices is the expectation of sanctions in relation to Iran.
Brent brand chart (current price: $ 72.30)
The Brent brand is trading near Monday highs pending a reduction in supply from Iran.
- Resistance 1: From $ 72.50 (technical level)
- Resistance 2: From $ 73.00 (psychological level)
- Support 1: From $ 71.50 (technical level)
- Support 2: From $ 71.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone indicating the potential for growth.
WTI brand chart (current price: $ 65.40)
The WTI brand has slowed down growth, which is due to the possibility of an increase in the supply of oil from the US.
- Resistance 1: From $ 66.00 (psychological maximum)
- Resistance 2: From $ 66.50 (technical level)
- Support 1: From $ 65.00 (psychological level)
- Support 2: From $ 64.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone indicating a limited reduction.