OIL Forex Analysis for Today, Thursday(18-04-2024)

OIL Forex Analysis for Today, Thursday(18-04-2024)

OIL Forex Analysis for Today, Thursday(18-04-2024)

Prepare to Seize Selling Opportunities in OIL, Prices Under Pressure

US Oil Inventory Increases

WTI crude oil prices declined last night due to indications of a significant increase in US crude oil inventories. The inventory increased by 2.74 million barrels, exceeding the market’s estimate of 1.6 million barrels.

Breakdown of Support Could Trigger Sell Signal

Prices are approaching the support area, where there is a high probability of taking a selling opportunity if the price breaks below that support.

Prediction: WEAK OIL


  • R1 83.22
  • R2 82.42
  • R3 83.70
  • R4 84.15


  • S1 82.42
  • S2 83.22
  • S3 82.01
  • S4 81.56

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