Oil today
Oil quotes remain trading with a slight decrease after the release of data on oil reserves in the USA. It showed a slight increase in crude oil reserves and a significant decrease in oil products stocks. As a result, oil quotes continue to trade near local highs, maintaining a common upward trend. But the upward dynamics of oil is still limited to the highs of September.
The oil market remains largely dependent on fundamental factors and statements, as indicated by the limited dynamics of oil quotes.
- The nearest resistance levels: for WTI – 52.50 and 53.00 $ per barrel, for Brent – 58.50 and 59.00 $ per barrel.
- Supported by the levels: for WTI – 51.50 and 51.00 $ per barrel, for Brent – 57.00 and 56.50 $ per barrel.
Recommended for reading: Technical Analysis
Hanzenko Anton