OIL Forex Analysis for Today, Tuesday (07-05-2024)

OIL Forex Analysis for Today, Tuesday (07-05-2024)

OIL Forex Analysis for Today, Tuesday (07-05-2024)

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Stay Updated on SELL Opportunities, OIL Continues to Face Pressure!

CLSK Analysis

Markets Monitor Ceasefire Efforts

Crude oil prices are moving steadily as the market continues to monitor ceasefire efforts between Israel and Hamas. Hamas is reported to have accepted ceasefire terms, but Israel has not yet issued an official statement.

Sell on Break Below Support

Prices are still under pressure. Selling opportunities can be considered if there is a breakthrough below the support level seen on the H4 time frame.

Prediction: WEAK OIL

Resistance Levels

  • R1: 80.06
  • R2: 77.76
  • R3: 80.90
  • R4: 82.39

Support Levels

  • S1: 77.76
  • S2: 80.06
  • S3: 76.77
  • S4: 75.52

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.

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