Technical analysis of oil (Dani Leviant)
Forex indicators used in Technical analysis: MACD, RSI, Ichimoku Kinko Hyo, Equal-channel, Fibonacci lines, Price Levels.
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Oil quotes are traded down, waiting for the results of the OPEC meeting, the results of which may reduce oil production.
Brent brand chart (current price: $ 60.80)
Brent is trading lower, remaining under the pressure of market pessimism, limited to a side weekly channel.
- Resistance 1: From $ 62.00 (psychological level)
- Resistance 2: From $ 62.50 (technical level)
- Support 1: From $ 60.00 (technical level)
- Support 2: From $ 59.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating the limitations of the decline.
WTI brand chart (current price: $ 51.90)
WTI also shows a decline in pessimism and growth in US oil reserves.
- Resistance 1: From $ 53.50 (technical level)
- Resistance 2: From $ 54.00 (psychological level)
- Support 1: From $ 51.50 (technical level)
- Support 2: From $ 51.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating the limitations of the decline