OIL Forex Analysis for Today, Tuesday (27-02-2024)

OIL Forex Analysis for Today, Tuesday (27-02-2024)

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
JustMarkets

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.


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