Technical analysis of oil (Dani Leviant)
Oil maintains a moderately positive dynamics after optimistic data on US oil reserves, API and production cuts in Libya.
Brent brand Chart (current price: $ 76.60)
The Brent brand trades with a strengthening, limited to psychology at 77.00.
- Resistance 1: From $ 77.00 (psychological level)
- Resistance 2: From $ 77.50 (technical level)
- Support 1: From $ 76.00 (psychological level)
- Support 2: From $ 75.50 (technical level)
Computer analysis: Movings indicators of the forex Stochastic Oscillator are in the neutral zone, but remain in the correction phase, which may limit the strengthening of the brand.
WTI brand Chart (current price: $ 70.70)
The WTI brand is also traded with a strengthening on the general optimism of the oil market, but may fall under the pressure of correction.
- Resistance 1: From $ 71.00 (psychological maximum)
- Resistance 2: From $ 71.50 (technical level)
- Support 1: From $ 70.00 (psychological level)
- Support 2: From $ 69.50 (technical level)
Computer analysis: Movings indicators of the forex Stochastic Oscillator are in the neutral zone, forming corrections after growth.
Forex indicators used in Technical analysis: MACD, RSI, Ichimoku Kinko Hyo, Equal-channel, Fibonacci lines, Price Levels.