CLSK Forex Analysis for Today, Friday(12-01-2024)
Potential SELL OIL! Bearish Engulfing Pattern Emerges
Daily Analysis CLSK
Iran Blocks Tanker in Oman
Oil prices rose 1% yesterday after Iran detained a tanker off the coast of Oman, increasing the possibility of escalation in the Middle East conflict. However, US inflation data limited the strength of oil prices.
Bearish Engulfing Pattern Emerges Again
Another bearish engulfing pattern has emerged on the H4 time frame, opening the possibility of bearish movement again today.
Conclusion: WEAK OIL
Resistance
- R1 72.50
- R2 74.25
- R3 71.50
- R4 70.50
Support
- S1 71.00
- S2 71.90
- S3 70.60
- S4 70.40
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