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 with strengthening on the waiting for sanctions against Iran.
Brent brand chart (current price: $ 78.10)
Brand Brent resumed growth at the start of the day from optimism and increased demand for oil due to the expectation of the November sanctions against Iran.
- Resistance 1: From $ 78.50 (technical level)
- Resistance 2: From $ 79.00 (psychological level)
- Support 1: From $ 77.50 (technical level)
- Support 2: From $ 77.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone and limits further growth.
WTI brand chart (current price: $ 67.80)
The WTI brand also shows restrained growth at the start of the day, limited to the lateral channel.
- Resistance 1: From $ 68.50 (technical maximum)
- Resistance 2: From $ 69.00 (psychological level)
- Support 1: From $ 67.50 (technical level)
- Support 2: From $ 67.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, that will slow the growth of the oil brand.