Technical Analysis of Oil (Alexander Sivtsov)
Oil is traded above the zero mark in the Asian session.
The Brent graph (current price: $ 6802.20 per 100 barrels)
The Brent brand is traded above the zero mark during the Asian session.
- Resistance 1: From $ 6900.00 (psychological level)
- Resistance 2: From $ 7000.00 (psychological level)
- Support 1: From $ 6719.20 (January 2 maximum)
- Support 2: From $ 6615.10 (January 2 minimum)
Computer analysis: The Stochastic Oscillator movings on the charts of H1 and H4 indicate overbought of the instrument, one should expect a certain reduction in the Brent price in anticipation of data on oil reserves in the US.
The WTI graph (current price: $ 6203.90 per 100 barrels)
The WTI brand is traded with a plus during the Asian session.
- Resistance 1: From $ 6300.00 (psychological level)
- Resistance 2: From $ 6400.00 (psychological level)
- Support 1: From $ 6100.00 (psychological level)
- Support 2: From $ 6011.20 (January 2 minimum)
Computer analysis: The Stochastic Oscillator movings on the charts of H1 and H4 indicate overbought of the instrument, which is why a downward correction of the WTI price is possible.