OIL Forex Analysis for Today, Tuesday (11-06-2024)
OIL Soars! Look for BUY Opportunities if Resistance Breaks
CLSK Analysis
Goldman Sachs: Oil Could Reach $86
Oil prices rose more than 2 percent yesterday after Goldman Sachs analysts predicted that Brent crude prices could reach $86 per barrel due to the potential for fuel demand during the summer to cause a supply deficit before OPEC+ ends its production cut policy.
Buy if Resistance Breaks
Crude oil prices are moving in a bullish bias, testing the resistance area. Buying opportunities can be taken if there is a breakout above the resistance area.
Forecast: STRONG OIL
Resistance Levels
- R1 79.05
- R2 76.90
- R3 79.85
- R4 80.85
Support Levels
- S1 75.50
- S2 76.90
- S3 74.05
- S4 72.95
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