Oil today: oil is corrected after growth
On Friday, oil quotations are traded with a slight decrease in correction after a prolonged growth, which was caused by the continued optimism of oil. Support for oil is provided by the adherence to the agreement of OPEC to limit oil production and data on the growth in oil demand in the world.
At the same time, the upward dynamics of oil is limited to long-term highs and correction of positions before the publication of data on the US, which in the end indicates the preservation of the corrective movement for oil.
Recommended for reading: Technical Analysis
- The nearest resistance levels: for WTI – 66.00 and 66.50 $ per barrel, for Brent – 70.00 and 70.50 $ per barrel.
- Support levels are: for WTI – 65.50 and 65.00 $ per barrel, for Brent – 69.00 and 68.50 $ per barrel.
WTI chart, current price – $ 65.70
Brent chart, current price – $ 69.50
Anton Hanzenko