OIL Forex Analysis for Today
SELL Opportunity in OIL: Monitor Resistance Area
CLSK Analysis
Oil Strengthening Hampered by Asian Economic Outlook
Oil prices strengthened as better-than-expected US economic data raised expectations that demand will increase from the US. However, concerns about the economic slowdown in China and Japan hindered the strengthening.
Monitor Resistance Area
Pullback occurred near the resistance area. This area can be used as a reference to look for confirmation of a sell signal.
Prediction: WEAK OIL
Resistance
- R1: 79.12
- R2: 78.00
- R3: 77.00
- R4: 76.00
Support
- S1: 80.06
- S2: 78.14
- S3: 77.25
- S4: 76.30
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