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 accelerated the decline on Wednesday after growth, due to the growth of pessimism in the market and the expectation of data on oil inventories in the United States.
Brent brand chart (current price: $ 59.20)
The Brent brand is trading lower, correcting against Tuesday’s growth, limited by lateral dynamics.
- Resistance 1: From $ 60.00 (psychological level)
- Resistance 2: From $ 61.00 (psychological level)
- Support 1: From $ 58.50 (psychological level)
- Support 2: From $ 57.50 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating a limited decline.
WTI brand chart (current price: $ 53.90)
The WTI brand is trading down for correction after growth, maintaining a restrained upward trend.
- Resistance 1: From $ 54.50 (psychological level)
- Resistance 2: From $ 55.50 (psychological level)
- Support 1: From $ 53.00 (psychological level)
- Support 2: From $ 52.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral overbought zone, indicating a limited decline.