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 strengthens its position on the growth of optimism and further decline in the US dollar.
Brent brand chart (current price: $ 71.80)
Brand Brent accelerated growth after a restrained correction, which was caused by the general growth of optimism in the markets and the decline in the US currency.
- Resistance 1: From $ 72.00 (psychological level)
- Resistance 2: From $ 72.50 (technical level)
- Support 1: From $ 70.50 (technical level)
- Support 2: From $ 70.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, which will limit the growth of oil.
WTI brand chart (current price: $ 65.70)
The WTI brand also demonstrates growth, despite the growth of oil inventories in the US.
- Resistance 1: From $ 66.00 (psychological maximum)
- Resistance 2: From $ 66.50 (technical level)
- Support 1: From $ 64.50 (technical level)
- Support 2: From $ 64.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, indicating the possibility of further growth.