CLSK Forex Analysis for Today – Wednesday (24-01-2024)
Failure to Break 75, Oil Monitors Key Resistance
Limited Reaction to Geopolitical Risks
Weak demand and supply recovery are constraining market reactions to increasing geopolitical risks. Despite attacks on Houthi fighters in Yemen and US military actions in Iraq, price hikes are limited due to news that Libya has resumed oil exports and US supplies are recovering after weather disruptions.
Consolidation at Key Resistance
On the H1 time frame, prices are still consolidating at resistance. SELL opportunities remain open as long as resistance fails to break.
Prediction: WEAK OIL
Resistance Levels
- R1: 75.70
- R2: 74.50
- R3: 76.50
- R4: 77.50
Support Levels
- S1: 74.50
- S2: 75.70
- S3: 74.00
- S4: 73.50
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