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 started the week very restrained after Friday’s multidirectional trading, which was caused by the cut of production in OPEC and non-cartel countries by 1.2 million barrels per day.
Brent brand chart (current price: $ 61.80)
Brent brand is trading at the opening of the day, adjusting against Friday’s growth.
- Resistance 1: From $ 62.50 (technical level)
- Resistance 2: From $ 63.00 (psychological level)
- Support 1: From $ 61.00 (psychological level)
- Support 2: From $ 60.50 (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: $ 52.50)
The WTI brand also shows restraint, limited to correction.
- 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 that growth is limited.