OIL Forex Analysis for Today, Wednesday (08-05-2024)

OIL Forex Analysis for Today, Wednesday (08-05-2024)

OIL Forex Analysis for Today, Wednesday (08-05-2024)

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OIL Still Under Pressure, Monitor for SELL Opportunities!

OIL Analysis (CLSK)

No Disruptions in Supply

Although the prospects of a ceasefire in Gaza are still unclear, crude oil prices remain stable under pressure as there are no significant disruptions in crude oil supply.

Sell on Break Below Support

Prices are still under pressure. Selling opportunities can be considered if there is a breakthrough below the support level seen on the H4 time frame.

Prediction: WEAK OIL

Resistance Levels

  • R1: 80.06
  • R2: 77.45
  • R3: 81.00
  • R4: 82.39

Support Levels

  • S1: 77.45
  • S2: 80.06
  • S3: 76.28
  • S4: 75.11

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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