OIL Forex Analysis for Today, Tuesday (13-08-2024)
Look for BUY Opportunities in OIL: Trading Above UP TRENDLINE
CLSK Analysis
Middle East Conflict Continues
Crude oil prices remain strong due to ongoing risks of escalating tensions in the Middle East. White House Security Spokesperson, John Kirby, mentioned that they are preparing for the possibility of a major attack from Iran or its allies against Israel.
Monitor Trendline Area
Prices are trading above the rising trendline visible on the H1 time frame. Watch for entry opportunities near this trendline area.
Forecast: STRONG OIL
Resistance Levels:
- R1: 75.94
- R2: 79.82
- R3: 81.77
- R4: 83.79
Support Levels:
- S1: 74.00
- S2: 76.00
- S3: 78.00
- S4: 80.00
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