Technical Analysis of Oil (Alexander Sivtsov)
Oil shows negative dynamics during the Asian session.
The Brent graph (current price: $ 6283.40 per 100 barrels)
The Brent brand is trading below zero mark during the Asian session.
- Resistance 1: From $ 6416.50 (November 10 maximum)
- 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 H4 and D1 charts are in the neutral zone, that is why the consolidation of the Brent price is possible in anticipation of publication of data on oil reserves in the US.
The WTI graph (current price: $ 5769.70 per 100 barrels)
The WTI brand is trading with a minus during the Asian session.
- Resistance 1: From $ 5900.00 (psychological level)
- Resistance 2: From $ 5990.00 (resistance line of Up channel on H1)
- Support 1: From $ 5680.00 (technical level)
- Support 2: From $ 5600.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 and D1 charts are in the neutral zone, that is why the consolidation of the WTI price is possible in anticipation of publication of data on oil reserves in the US.