Oil Technical Analysis (Alexander Sivtsov)
Oil is bidding below the zero mark in the Asian session.
Brent (current price: $ 5763.0 per 100 barrels)
Brent is trading below the zero mark during the Asian session.
- Resistance 1: From $ 5822.60 (maximum of the September 28)
- Resistance 2: From $ 5891.10 (maximum of the September 26)
- Support 1: From $ 5700.00 (psychological level)
- Support 2: From $ 5641.00 (MA 200 to H1)
Computer analysis: The movings of the Stochastic Oscillator indicator on the price chart of D1 are in the overbought zone, that is why we should expect a further reduction in Brent price in the next few days.
WTI (current price: $ 5201.0 per 100 barrels)
WTI is bidding with a small minus during the Asian session.
- Resistance 1: From $ 5,290.70 (maximum of the September 28)
- Resistance 2: From $ 5400.00 (psychological level)
- Support 1: From $ 5081.00 (MA 200 to H1)
- Support 2: From $ 5000.00 (psychological level)
Computer analysis: Just like the Brent, on the D1 chart, the Stochastic Oscillator movings are in the overbought zone, so we should expect a further decline in the price of the WTI brand in the odd come shortly.