Technical Analysis of Oil (Alexander Sivtsov)
Oil is traded above the zero mark in the Asian session.
The Brent graph (current price: $ 6894.00 per 100 barrels)
The Brent brand is traded above the zero mark during the Asian session.
- Resistance 1: From $ 7000.00 (psychological level)
- Resistance 2: With $ 7073.00 ( resistance line of the Up channel on H1)
- Support 1: From $ 6813.30 (January 4 maximum)
- Support 2: From $ 6700.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the charts of H4 and D1 indicate overbought of the instrument. That is why there may be some reduction in the Brent price.
The WTI graph (current price: $ 6335.10 per 100 barrels)
The WTI brand is traded with a plus during the Asian session.
- Resistance 1: From $ 6400.00 (psychological level)
- Resistance 2: From $ 6500.00 (psychological level)
- Support 1: From $ 6200.00 (psychological level)
- Support 2: From $ 6100.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the charts of H4 and D1 indicate overbought of the instrument, which is why one should expect a certain reduction in the price of WTI in anticipation of data on oil reserves in the US.