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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