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Message: [QUOTE="MikhailLF, post: 154774, member: 42242"] [b]LiteForex analitics. WTI Crude Oil: prices are falling[/b] Current trend Yesterday, oil prices dropped significantly and renewed the lows since April 10 due to traders' concerns about the growing imbalance of supply and demand in the market. The weekly EIA data released in the middle of the week reflected the growth of US oil reserves by 3.217 million barrels, which is less than the forecast of 4.110 million. However, gasoline inventories fell by 3.161 million barrels, while distillate stocks fell by 4.954 million. The main pressure on the quotes had an increase in American oil production. In August, it grew to 11.246 million barrels per day, which made the country the world leader in the field. On Friday, investors will focus on the block of US labor market data and Baker Hughes Oil Rig Count release. Support and resistance On the daily chart, Bollinger bands are steadily declining. The price range is tending to wide, but not as fast as the “bearish” trend is developing in the short term. MACD is falling, keeping a strong sell signal (the histogram is below the signal line). Stochastic is directed downwards but is close to its lows, which indicates that the instrument can become is oversold in the short and/or ultra-short term. It is better to keep current short positions until the situation is clear. Resistance levels: 64.00, 65.00, 65.74, 67.00. Support levels: 63.13, 62.67, 61.71, 61.00. Trading tips Long positions can be opened after the rebound from 63.13 and the breakout of the level of 64.00 with the target at 67.00. Stop loss is 63.00 or 62.70. Implementation period: 2–3 days. Short positions can be opened after the breakdown of the levels 63.13–63.00 with the target at 61.00. Stop loss is 64.00. Implementation period: 1–2 days. [IMG]http://s1.radikale.ru/uploads/2018/11/2/3c473c0162e628d4ef21bd9bbab16eca-full.png[/IMG] [/QUOTE]

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