Oil Technical Analysis (Alexander Sivtsov)
Oil is trading near the zero mark during the Asian session.
Brent (current price: $ 5911.0 per 100 barrels)
Brent is trading slightly above the zero mark in the Asian session.
Resistance 1: From $ 6000.00 (psychological level)
Resistance 2: From $ 6100.00 (psychological level)
Support 1: From $ 5785.00 (October 26 minimum)
Support 2: With $ 5693.80 (October 24 minimum)
Computer analysis: Indicator MACD on the chart D1 continues formation of a bearish divergence. There remains a possibility of the reduction of Brent price.
WTI (current price: $ 5264.7 per 100 barrels)
WTI is trading near the zero mark during the Asian session.
Resistance 1: From $ 5374.00 (level 23.6 Up of the Fibonacci channel on H4)
Resistance 2: From $ 5400.00 (psychological level)
Support 1: From $ 5157.00 (October 24 minimum)
Support 2: From $ 5100.00 (psychological level)
Computer analysis: The MACD indicator on the chart D1 continues to form a bearish divergence. It is worth to expect a decrease in the price of WTI.