Oil Technical Analysis (Alexander Sivtsov)

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

Brent graph (current price: $ 6324.6 per 100 barrels)

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

Resistance 1: From $ 6454.30 (November 7 maximum)
Resistance 2: From $ 6500.00 (psychological level)
Support 1: From $ 6200.00 (psychological level)
Support 2: From $ 6100.00 (psychological level)

Computer analysis: Stochastic Oscillator movings on the chart of H1 and H4 indicate oversold of oil. One should expect some recovery of the Brent price in anticipation of data on oil and oil products in the US.

WTI graph (current price: $ 5699.6 per 100 barrels)

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

Resistance 1: From $ 5900.00 (psychological level)
Resistance 2: From $ 6000.00 (psychological level)
Support 1: From $ 5577.60 (November 6 minimum)
Support 2: From $ 5500.00 (psychological level)

Computer analysis: The Stochastic Oscillator movings on the chart of H1 and H4 indicate oversold zone. Therefore one should expect some recovery in the price of the WTI brand.