OIL Forex Analysis for Today, Tuesday (27-02-2024)
Crude Oil Rises Over $1, Watch for BUY Opportunities in Correction Area
Daily CLSK Analysis
Fed Influences Weakening of Crude Oil
Oil prices rose by more than $1 amid potential delivery disruptions, especially due to limited European diesel demand due to Russian sanctions. WTI rose to $77.58 per barrel. The Houthi rebellion in Yemen and Iran also raised concerns about supply.
Rebound Leaves Strong Support
Crude oil prices still tend to move sideways, appearing to move in a consistent ranging area between 75.00 – 79.00. Watch for correction opportunities in Oil today to confirm buy signals.
Prediction: STRONG OIL
Resistance
- R1 76.85
- R2 75.35
- R3 78.60
- R4 79.30
Support
- S1 75.35
- S2 75.90
- S3 74.92
- S4 74.23

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