Technical analysis of oil (Dani Leviant)
Oil updates annual highs due to the fears about oil supplies from Venezuela.
Brent chart (current price: $ 79.70)
The Brent brand is traded near psychology – $ 80 per barrel, after yesterday’s failed attempt to overcome this level.
- Resistance 1: From $ 80.00 (psychological level)
- Resistance 2: From $ 80.50 (technical level)
- Support 1: From $ 79.00 (psychological level)
- Support 2: From $ 78.00 (psychological level)
Computer analysis: Thr Stochastic Oscillator movings are in the overbought zone, which will limit the possibility of taking a mark of $ 80 per barrel.
WTI chart (current price: $ 71.70)
The WTI brand is traded at the opening level of the day, thereby maintaining the potential for growth.
- Resistance 1: From $ 73.00 (psychological level)
- Resistance 2: From $ 73.50 (technical level)
- Support 1: From $ 72.00 (psychological level)
- Support 2: From $ 71.50 (technical level)
Computer analysis: The Stochastic Oscillator movings are also in the overbought zone, indicating that the market is not ready to update the maximum at 73.00.