OIL Drops Again! Look for Sell Opportunities If Support Breaks
Analysis of CLSK
Rising Inventories, Falling Demand
US fuel inventories increased by two million barrels last week, while demand decreased by 166,000 barrels per day according to data from the Energy Information Administration.
Sell If Support Breaks
Crude oil prices continued to weaken after breaking support yesterday. Sell opportunities can be sought again if the current support area breaks.
Forecast: WEAK OIL
Resistance Levels:
- R1: 78.26
- R2: 77.46
- R3: 78.48
- R4: 78.99
Support Levels:
- S1: 77.46
- S2: 78.26
- S3: 77.12
- S4: 76.62
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