OIL Forex Analysis for Today, Friday (07-06-2024)

OIL Forex Analysis for Today, Friday (07-06-2024)

OIL Forex Analysis for Today, Friday (07-06-2024)

Look for BUY Opportunities in OIL! Downtrend Line Has Been Broken!

Analysis of CLSK

ECB Rate Cut Boosts Oil Prices

Crude oil prices strengthened following the ECB rate cut and hopes that the Fed will take similar action in September, as lower interest rates can spur economic growth and increase demand for crude oil.

Buy If Resistance is Broken

Oil prices have broken above the descending trendline visible on the H1 time frame and are currently testing the resistance area. Buying opportunities can be taken if there is a break above this resistance area.

Forecast: STRONG OIL

Resistance Levels

  • R1 76.35
  • R2 75.25
  • R3 77.01
  • R4 77.48

Support Levels

  • S1 74.05
  • S2 74.93
  • S3 73.42
  • S4 72.92

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *