OIL Forex Analysis for Today, Monday (20-05-2024)

OIL Forex Analysis for Today, Monday (20-05-2024)

OIL Forex Analysis for Today, Monday (20-05-2024)

Look for BUY Opportunities in OIL, Monitor Resistance

CLSK Analysis

Expectations of Rising Demand Boost Oil Prices

Crude oil prices strengthened again due to hopes of increasing demand, especially following economic data from major consumers such as China and the US. China’s industrial output rose by 6.7 percent in April as the manufacturing sector recovered.

Monitor Resistance Area

Prices are testing the resistance area seen on the H1 timeframe. Buying opportunities can be sought if this resistance area is broken.

Prediction: STRONG OIL


  • R1 80.17
  • R2 79.12
  • R3 80.79
  • R4 81.46


  • S1 79.12
  • S2 80.17
  • S3 78.65
  • S4 78.19

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