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 show an increase in the reduction of drilling activity, correction after the reduction and the expectation of sanctions against Iran.
Brent brand chart (current price: $ 77.70)
Brand Brent is trading near last week’s highs on renewed optimism not the oil market due to expectations of a reduction in supply due to sanctions against Iran.
- Resistance 1: From $ 78.00 (psychological level)
- Resistance 2: From $ 78.50 (technical level)
- Support 1: From $ 77.00 (psychological level)
- Support 2: From $ 76.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, which limits further growth.
WTI brand chart (current price: $ 67.80)
The WTI brand also returned to growth, having broken downward dynamics.
- Resistance 1: From $ 69.00 (psychological maximum)
- Resistance 2: From $ 69.50 (technical level)
- Support 1: From $ 68.00 (psychological level)
- Support 2: From $ 67.50 (technical level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, which will slow the growth of the oil brand.