Oil Technical Analysis (Alexander Sivtsov)

Oil is trading below the zero mark during the Asian session.

Brent (current price: $ 6045.8 per 100 barrels)

Brent is trading just below the zero mark during the Asian session.

Resistance 1: From $ 6100.00 (psychological level)
Resistance 2: With $ 6180.00 (line of resistance Up channel on H4)
Support 1: From $ 5930.40 (October 26 maximum)
Support 2: From $ 5858.70 (October 27 minimum)

Computer analysis: The Stochastic Oscillator movings on the D1 chart are still in the overbought zone. One should expect a downward correction of the Brent price.

WTI (current price: $ 5411.6 per 100 barrels)

The WTI brand is trading with a small minus during the Asian session.

Resistance 1: From $ 5500.00 (psychological level)
Resistance 2: With $ 5585.00 (line of resistance Up channel on H1)
Support 1: From $ 5228.70 (October 27 minimum)
Support 2: From $ 5157.00 (October 24 minimum)

Computer analysis: The Stochastic Oscillator movings on the D1 chart are in the overbought zone. One should expect the reduce of the WTI price.