Technical Analysis of Oil (Alexander Sivtsov)
Oil is traded above the zero mark in the Asian session.
The Brent graph (current price: $ 6487.10 per 100 barrels)
The Brent brand is traded with a plus during the Asian session.
- Resistance 1: From $ 6643.00 (February 6 minimum)
- Resistance 2: From $ 6755.80 (February 7 maximum)
- Support 1: From $ 6300.00 (psychological level)
- Support 2: From $ 6165.00 (February 13 minimum)
Computer analysis: The Stochastic Oscillator on the charts of H1 and H4 indicate overbought of the instrument, against which a downward correction of the Brent price may be possible.
The WTI graph (current price: $ 6132.80 per 100 barrels)
The WTI brand is traded above the zero mark during the Asian session.
- Resistance 1: From $ 6289.20 (February 6 minimum)
- Resistance 2: From $ 6400.00 (psychological level)
- Support 1: From $ 5950.00 (technical level)
- Support 2: From $ 5800.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the charts of H1 and H4 indicate overbought of the instrument, in connection with which one should expect a certain reduction in the price of WTI.