OIL Forex Analysis for Today, Tuesday (11-06-2024)

OIL Forex Analysis for Today, Tuesday (11-06-2024)

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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