OIL Forex Analysis for Today, Tuesday(16-04-2024)

OIL Forex Analysis for Today, Tuesday(16-04-2024)

OIL Forex Analysis for Today, Tuesday(16-04-2024)

Check Opportunities to Buy OIL: Prices Held at Support Area

Daily Analysis CLSK

Increasing Tensions in the Middle East

Iran responded to the attack on its consulate in Syria by retaliating against Israel. If the conflict continues, Iran could block oil transportation in the Strait of Hormuz. This could impact the soaring prices of global oil.

Potential for Price Continuation

Oil is held at the support area and has the potential to resume its upward movement. Buy opportunities can be sought as long as prices do not break below the support area.

Prediction: STRONG OIL


  • R1 85.30
  • R2 84.30
  • R3 85.80
  • R4 86.30


  • S1 84.30
  • S2 85.30
  • S3 83.80
  • S4 83.30

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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