OIL Forex Analysis for Today, Tuesday (02-07-2024)
Look for BUY Opportunities in OIL Again, Still Moving Above Trendline
Analysis CLSK
Prices Rise Ahead of US Independence Day Holiday
Crude oil prices rose ahead of the holiday related to the United States Independence Day celebrations, after previously rising due to increased geopolitical tensions in the Middle East.
Monitor Trendline Area
Prices are still moving above the ascending trendline visible on the H1 time frame. Buying opportunities can be considered if a correction occurs to the trendline area.
Prediction: Strong OIL
Resistance
- R1 80.74
- R2 83.00
- R3 84.00
- R4 84.95
Support
- S1 80.74
- S2 81.00
- S3 81.98
- S4 83.00
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.