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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The oil market is trading down, despite signs of declining the US oil reserves, remaining under the pressure from lower demand.
Brent brand chart (current price: $ 63.30)
Brent brand is trading at the opening of the day level, showing growth on the correction after the decline and limited to the downward trend.
- Resistance 1: From $ 64.00 (psychological level)
- Resistance 2: From $ 64.50 (psychological level)
- Support 1: From $ 63.00 (psychological level)
- Support 2: From $ 62.50 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating that growth is limited.
WTI brand chart (current price: $ 56.10)
The WTI brand is trading at the opening of the day level, correcting after the decline and keeping the downtrend.
- Resistance 1: From $ 57.00 (psychological level)
- Resistance 2: From $ 57.50 (psychological level)
- Support 1: From $ 55.50 (psychological level)
- Support 2: From $ 55.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, indicating the limited growth.