Yesterday during the trading session the WTI crude oil prices’ dynamics were mixed. The price has tested the maximum in the level of 54.67 and then corrected downwards. The oil prices quite stable stays on the high level due to the OPEC world oil production limitation. The high level of the oil resources in the USA statistics and the increase of the oil rigs number in the USA keeps the oil price from growing. Today the API Weekly Crude Oil Stock data is to be published. The growth of the resources can pressure the oil prices in the short term. The EIA Crude Oil Stocks change data will be published tomorrow.
Technical indicators reflects the lowering of the trade activity and the sideways movement of the price. The Bollinger Bands® indicator is pointed sideways. The MACD histogram is moving along the zero line.
Support levels: 53.89, 53.09, 52.04.
Resistance levels: 54.67, 55.70, 56.00.