Technical Analysis of Oil (Alexander Sivtsov)
Oil is trading above the zero mark in the Asian session.
The Brent graph (current price: $ 6,245.10 per 100 barrels)
The Brent brand is trading above the zero mark during the Asian session.
- Resistance 1: From $ 6351.20 (December 8 maximum)
- Resistance 2: From $ 6427.30 (December 1 maximum)
- Support 1: With $ 6107.90 (December 7 minimum)
- Support 2: From $ 6000.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart indicate oversold of the instrument, that is why there may be some recovery in Brent price.
The WTI graph (current price: $ 5674.60 per 100 barrels)
The WTI brand is trading with a plus during the Asian session.
- Resistance 1: From $ 5777.80 (December 13 maximum)
- Resistance 2: From $ 5855.80 (December 12 maximum)
- Support 1: From $ 5584.10 (December 7 minimum)
- Support 2: From $ 5500.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart indicate oversold of the instrument, which may cause some recovery of the WTI price.