OIL Forex Analysis for Today, Tuesday (25-06-2024)
OIL Held at Resistance, Monitor for SELL Opportunities
CLSK Analysis
Middle East Geopolitical Crisis Under Watch
Mutual threats between Israel and Lebanon’s Hezbollah group caused oil prices to rise yesterday due to supply disruption concerns. On the other hand, the market is also awaiting the latest US economic data updates that could make the Fed keep interest rates high for a while, thus limiting USD weakness.
Held at Resistance
The rise in crude oil prices is held at the resistance area. SELL opportunities can be taken if there is a confirmed sell signal before the resistance area breaks.
Prediction: WEAK OIL
Resistance
- R1 83.00
- R2 81.81
- R3 82.50
- R4 81.85
Support
- S1 82.81
- S2 80.93
- S3 80.30
- S4 79.63
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