OIL Forex Analysis for Today
SELL Opportunity in OIL: Break of Structure Observed
CLSK Analysis – Supply Increases, Demand Decreases
Crude oil prices continue to move in a daily weakening trend as market participants focus on rising supply and falling demand. Political issues like Biden’s withdrawal from the US presidential race are not major market concerns.
Break of Structure
A pullback has occurred to the resistance area marking a break of structure. This area can serve as a reference for seeking confirmation of sell signals.
Prediction: WEAK OIL
Resistance
- R1: 81.00
- R2: 80.00
- R3: 79.00
- R4: 78.00
Support
- S1: 79.28
- S2: 77.86
- S3: 77.17
- S4: 76.52
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