Chart of the day - OIL (06.05.2021)

Open account Download free app

Brent (OIL) reached the highest level since March 15, 2021 yesterday and tested $70.00 area. DoE Report released yesterday confirmed a massive drop in US oil stockpiles signalled by API data on Tuesday. While economic recovery in Europe, United States and China is a positive factor for oil prices, a very severe pandemic situation in India is a source of concern for bulls. India is one of the largest oil importers in the world. While Indian government is slow to impose any far-reaching restrictions, it may be forced to do so should the situation continue to deteriorate.

Taking a look at OIL from a technical point of view, we can see that the price pulled back after a failed attempt of breaking above the $70.00 area. Correction was halted near the previous local high and a recovery attempt can be spotted today. The aforementioned $70 area is a key resistance to watch in near-term. Should declines resume, key support can be found in the $66.00-66.50 area, where previous price reactions, the lower limit of the Overbalance structure as well as the upward trendline are located.

Source: xStation5

16 March 2026, 1:29 PM

Market Wrap: Europe attempts rebound amid hopes of restoring traffic in Hormuz 🚢

16 March 2026, 7:04 AM

Morning wrap (16.03.2026)

13 March 2026, 5:31 PM

Three markets to watch next week (13.03.2026)

13 March 2026, 6:52 AM

Morning Wrap: Russian Oil with a 30-Day Purchase Permit

Commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days