Oil Technical Analysis (Alexander Sivtsov)

Oil is trading in the green zone during the Asian session.

Brent (current price: $ 6230.1 per 100 barrels)

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

Resistance 1: From $ 6300.00 (psychological level)
Resistance 2: With $ 6370.00 (line of resistance of Up channel on H1)
Support 1: From $ 6000.00 (psychological level)
Support 2: From $ 5930.40 (October 26 maximum)

Computer analysis: The Stochastic Oscillator movings on the H4 chart indicate overbought of oil. One should expect a slight decrease in Brent price in today’s trading.

WTI (current price: $ 5595.9 per 100 barrels)

WTI is trading with a plus during the Asian session.

Resistance 1: From $ 5700.00 (psychological level)
Resistance 2: From $ 5785.00 (line of resistance of the Up channel on D1)
Support 1: From $ 5400.00 (psychological level)
Support 2: From $ 5288.00 (October 26 maximum)

Computer analysis: The Stochastic Oscillator movings on the H4 chart indicate overbought. One should expect the reduction of the WTI price.