OIL Forex Analysis for Today, Monday (10-06-2024)

OIL Forex Analysis for Today, Monday (10-06-2024)

OIL Forex Analysis for Today, Monday (10-06-2024)

OIL Stuck at Resistance, Look for SELL Opportunities

CLSK Analysis

Oversupply Shadows the Market

OPEC+ production is expected to rise after Saudi Arabia and several other OPEC+ members announced they will halt production cuts in October, limiting crude oil price gains.

Sell in the Resistance Area

Crude oil prices are stuck in a resistance area seen on the H1 time frame. Selling opportunities can be considered in this resistance area as long as prices do not break above it.

Forecast: WEAK OIL

Resistance Levels

  • R1 76.73
  • R2 75.48
  • R3 77.10
  • R4 77.49

Support Levels

  • S1 75.48
  • S2 76.73
  • S3 75.02
  • S4 74.56

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