OIL Forex Analysis for Today, Thursday (13-06-2024)

OIL Forex Analysis for Today, Thursday (13-06-2024)

OIL Forex Analysis for Today, Thursday (13-06-2024)

OIL Still Uptrend: Look for BUY at Support Area

CLSK Analysis

Supply-Demand Gap Expected to Narrow

Crude oil prices are rising as the gap between demand and supply is expected to narrow in Q3 2024. The US Department of Energy forecasts global demand to increase by 1.1 million barrels per day this year.

Buy at Support Area

Crude oil prices are in an uptrend as seen in the H1 time frame. Buying opportunities can be sought if a correction to the support area occurs.

Prediction: STRONG OIL

Resistance Levels

  • R1 77.84
  • R2 76.79
  • R3 78.20
  • R4 78.62

Support Levels

  • S1 76.79
  • S2 78.20
  • S3 76.20
  • S4 75.16

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