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 opened the week with restrained growth on market optimism regarding sanctions against Venezuela and the reduction of oil production in OPEC.
Brent brand chart (current price: $ 60.60)
Brent is trading with a slight strengthening, limited to overbought and trading channel.
- Resistance 1: From $ 63.50 (technical level)
- Resistance 2: From $ 64.00 (psychological level)
- Support 1: From $ 62.00 (psychological level)
- Support 2: From $ 61.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating that growth is limited.
WTI brand chart (current price: $ 55,330)
The WTI brand also trades in different directions, keeping upward dynamic, but limited to attempts of correction.
- Resistance 1: From $ 56.00 (psychological level)
- Resistance 2: From $ 56.50 (technical level)
- Support 1: From $ 54.50 (technical level)
- Support 2: From $ 54.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating the limitations of significant growth.