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 remains restrained after yesterday’s decline on the EIA data on oil inventories in the United States.
Brent brand chart (current price: $ 61.00)
The Brent brand shows restrained movement at the opening day level. What slowed down the upward trend, but retained the upward dynamics.
- Resistance 1: From $ 62.00 (psychological level)
- Resistance 2: From $ 63.00 (psychological level)
- Support 1: From $ 60.50 (psychological level)
- Support 2: From $ 59.50 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating a limited decline.
WTI brand chart (current price: $ 55.60)
The WTI brand is trading lower after mixed EIA data on the US oil reserves, forming a correction after growth.
- Resistance 1: From $ 56.50 (psychological level)
- Resistance 2: From $ 57.50 (psychological level)
- Support 1: From $ 55.00 (psychological level)
- Support 2: From $ 54.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone, indicating a limited decline.