Technical Analysis of Oil (Alexander Sivtsov)
Oil shows mixed dynamics during the Asian session.
The Brent graph (current price: $ 6346.20 per 100 barrels)
The Brent brand is trading above the zero mark during the Asian session.
- Resistance 1: From $ 6455.30 (November 8 maximum)
- Resistance 2: From $ 6500.00 (psychological level)
- Support 1: From $ 6200.00 (psychological level)
- Support 2: From $ 6100.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the charts H1 and D1 indicate overbought of the instrument, so the reduction of the Brent price is possible.
The graph of the brand WTI (current price: $ 5865.20 per 100 barrels)
The WTI brand is trading with a minus during the Asian session.
- Resistance 1: From $ 6000.00 (psychological level)
- Resistance 2: From $ 6100.00 (psychological level)
- Support 1: From $ 5760.00 (technical level)
- Support 2: From $ 5680.00 (MA 200 on H1)
Computer analysis: The Stochastic Oscillator movings on the charts H1 and D1 indicate overbought of the instrument. That is why a downward correction of the WTI brand price is possible.