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 under the pressure of negative sentiment due to the escalation of the US trade confrontation.
Brent brand chart (current price: $ 77.20)
The Brent brand is trading lower with the preservation of risks and the possibility of reviewing the sanctions against Iran.
- Resistance 1: From $ 78.50 (technical level)
- Resistance 2: From $ 79.00 (psychological level)
- Support 1: From $ 77.00 (psychological level)
- Support 2: From $ 76.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the zone of easy overselling, indicating the preservation of downward sentiment, which in the future will be limited to oversold.
WTI brand chart (current price: $ 74.30)
The WTI brand also weakened, but maintains a sideways trend in data on the reduction of US oil reserves from the API.
- Resistance 1: From $ 75.00 (psychological maximum)
- Resistance 2: From $ 75.50 (technical level)
- Support 1: From $ 72.50 (technical level)
- Support 2: From $ 72.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, limited to the moods on the market.