Oil Technical Analysis (Alexander Sivtsov)

Oil is trading near zero marks during the Asian session.

Brent (current price: $ 6056.0 per 100 barrels)

Brent is trading above the zero mark during the Asian session.

Resistance 1: From $ 6200.00 (psychological level)
Resistance 2: From $ 6300.00 (psychological level)
Support 1: From $ 5930.40 (October 26 maximum)
Support 2: From $ 5858.70 (October 27 minimum)

Computer analysis: The Stochastic Oscillator movings on the D1 chart are preparing to exit from the overbought zone. One should expect a slight decrease in Brent price during today’s trading.

WTI (current price: $ 5442.6 per 100 barrels)

WTI is trading near the zero mark during the Asian session.

Resistance 1: From $ 5600.00 (psychological level)
Resistance 2: From $ 5700.00 (psychological level)
Support 1: From $ 5288.00 (October 26 maximum)
Support 2: From $ 5,228.70 (October 27 minimum)

Computer analysis: The Stochastic Oscillator movings on the D1 chart are preparing to exit the overbought zone. Therefore, one should expect a reduction in the price of the WTI brand.