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 quotations are traded with strengthening on the growth of optimism, caused by data API for the reduction of oil inventories in the US.
Brent brand chart (current price: $ 73.20)
Brand Brent traded with the strengthening, limited to the downward channel and last week’s highs.
- Resistance 1: From $ 73.50 (technical level)
- Resistance 2: From $ 74.00 (psychological 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 overbought zone, indicating a limited growth.
WTI brand chart (current price: $ 66.30)
The WTI brand also trades with a strengthening on data to reduce oil inventories in the US, but is limited to last week’s highs.
- Resistance 1: From $ 67.00 (psychological maximum)
- Resistance 2: From $ 67.50 (technical level)
- Support 1: From $ 66.00 (psychological level)
- Support 2: From $ 65.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, which will limit the growth of the WTI brand.