Technical Analysis of Oil (Alexander Sivtsov)
Oil is trading below the zero mark in the Asian session.
The Brent graph (current price: $ 6260.10 per 100 barrels)
Brand Brent is trading below the zero mark during the Asian session.
- Resistance 1: From $ 6356.20 (November 29 maximum)
- Resistance 2: From $ 6427.30 (December 1 maximum)
- Support 1: From $ 6191.60 (November 29 minimum)
- Support 2: From $ 6100.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone. So, the consolidation of the Brent price is possible, in anticipation of data on oil reserves in the US.
The WTI graph (current price: $ 5743.20 per 100 barrels)
The WTI brand is trading below the zero mark during the Asian session.
- Resistance 1: From $ 5900.00 (psychological level)
- Resistance 2: From $ 5955.00 (resistance line Up channel on H4)
- Support 1: From $ 5676.40 (November 29 minimum)
- Support 2: From $ 5600.00 (psychological level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart are in the neutral zone, and therefore one should expect the consolidation of the WTI brand price, in anticipation of data on oil reserves in the US.