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 quotes continue to trade lower after the EIA data on the growth of gasoline inventories in the US.
Brent brand chart (current price: $ 76.40)
Brand Brent is traded near the lower border of the upward channel, limiting itself to oversold.
- Resistance 1: From $ 78.50 (technical level)
- Resistance 2: From $ 78.00 (psychological level)
- Support 1: From $ 75.50 (technical level)
- Support 2: From $ 75.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the oversold zone, limiting further decline.
WTI brand chart (current price: $ 67.80)
The WTI brand also remains under pressure, but at the same time it forms a downward trend.
- Resistance 1: From $ 68.50 (technical maximum)
- Resistance 2: From $ 69.00 (psychological level)
- Support 1: From $ 67.50 (technical level)
- Support 2: From $ 67.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the neutral zone, but limit the possibility of reduction without correction.