Technical Analysis of Oil (Alexander Sivtsov)
Oil shows mixed dynamics during the Asian session.
The Brent graph (current price: $ 7004.10 per 100 barrels)
The Brent brand is traded with a small minus during the Asian session.
- Resistance 1: From $ 7083.00 (January 25 maximum)
- Resistance 2: From $ 7200.00 (psychological level)
- Support 1: From $ 6900.00 (psychological level)
- Support 2: From $ 6800.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone, so the consolidation of the Brent price is possible.
The WTI graph (current price: $ 6618.40 per 100 barrels)
The WTI brand is traded just above the zero mark during the Asian session.
- Resistance 1: From $ 6700.00 (psychological level)
- Resistance 2: From $ 6785.00 (resistance line of Up channel on H1)
- Support 1: From $ 6500.00 (psychological level)
- Support 2: From $ 6435.00 (MA 200 on H1)
Computer analysis: The Stochastic Oscillator movings on the H1 chart are in the neutral zone, so one should expect the WTI price to move in a narrow range.