Technical analys of oil (Anton Hanzenko)
Oil remains under pressure of correction after growth last Thursday.
Brent chart (current price: $ 76.70)
The Brent is trading at the level of the opening of the day, remaining under pressure of correction.
- Resistance 1: From $ 78.00 (psychological level)
- Resistance 2: From $ 78.50 (technical level)
- Support 1: From $ 76.50 (technical level)
- Support 2: From $ 76.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings are in the phase of considerable oversold, thereby indicating the ascending dynamics.
WTI chart (current price: $ 70.50)
The WTI brand is also trading at the day’s opening level, remaining under pressure.
- Resistance 1: From $ 72.00 (psychological level)
- Resistance 2: From $ 72.50 (technical level)
- Support 1: From $ 70.00 (technical level)
- Support 2: From $ 69.50 (psychological level)
Computer analysis: The Stochastic Oscillator movings are in the neutral zone, but remains prone to oversold, which can serve as a signal for the resumption of rising of oil prices.