Oil Today: Oil Strengthens Positions

On Tuesday, oil quotations are traded with a strengthening on optimism about reduction of the risks associated with the US trade war. At the same time, the main oil brands remain near the highs of the current year and are limited to them. Under the current conditions, the upcoming data on oil reserves by API and EIA may be regarded by the market as drivers for the movement, but with an eye to the significant overbought of oil.

Recommended for reading: Technical analysis of oil and not only

• The nearest resistance levels (signals to sell oil): for WTI – 66.50 and 67.00 $ per barrel, for Brent -71.00 and 71.50 $ per barrel.
• Support levels (signals to buy oil): for WTI – 65.50 and 65.00 $ per barrel, for Brent – 69.90 and 69.50 $ per barrel.

Graph of WTI. Current price – $ 66.10

Graph of Brent. Current price – 70.70 $

Hanzenko Anton