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OIL Technical analysis 22 June 2018

2018-06-22 01:35 am | Resource: Technical Analysis | No Views : 98

Time frame Used - four hours
Oil is moving in a sideway direction in the near term
The purchasing power managed to control the movement of oil to penetrate the level of resistance 65.93 higher
  In view of the technical indicators
Both the RSI and the Stochastic are showing signs of recovery
Accordingly, we expect that the oil will  target levels of  66.50 - 67.10
The alternative scenario is that the oil retreated  to the level of 64.53 - 63.37
Resistance: 65.93 - 66.50 - 67.10
Support: 64.53 - 63.37 - 62.50
Direction: sideway
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