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 prices moved to correction after another update of the highs on the expectation of a reduction in supply in the oil market.
Brent brand chart (current price: $ 81.80)
Brand Brent is trading slightly above the opening level of the day, limited to overbought.
- Resistance 1: From $ 82.50 (technical level)
- Resistance 2: From $ 83.00 (psychological level)
- Support 1: From $ 81.50 (technical level)
- Support 2: From $ 81.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the zone of easy overbought, indicating a limited growth.
WTI brand chart (current price: $ 72.10)
The WTI brand also appeared under pressure of correction, which was strengthened by the expectation of EIA data.
- Resistance 1: From $ 72.50 (technical maximum)
- Resistance 2: From $ 73.00 (psychological level)
- Support 1: From $ 71.50 (technical level)
- Support 2: From $ 71.00 (psychological level)
Computer analysis: Movings indicators forex Stochastic Oscillator are in the overbought zone, limiting further growth.