OIL forex analysis for today, Thursday(09-05-2024)

OIL forex analysis for today, Thursday(09-05-2024)

OIL Pullback to Resistance, Monitor for SELL!

Analyze CLSK

The United States Seriously Seeks Ceasefire

Crude oil prices briefly rose as commercial oil inventories in the US decreased. However, the market is still monitoring the potential ceasefire between Israel and Hamas, observing the seriousness of the US in pursuing this with the presence of the CIA Director in Israel to discuss ongoing ceasefire negotiations in Cairo, according to NBC sources.

Sell at Resistance Area

Prices are moving towards the resistance area, but the overall trend is still downward. Look for selling opportunities in that resistance area.

Prediction: WEAK OIL

  • Resistance
    • R1 80.10
    • R2 79.26
    • R3 80.64
    • R4 81.25
  • Support
    • S1 79.26
    • S2 80.10
    • S3 78.47
    • S4 77.51



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