OIL Forex Analysis for Today, Wednesday (29-05-2024)

OIL Forex Analysis for Today, Wednesday (29-05-2024)

Look for BUY OIL Again! Price Continues Bullish

Analysis of CLSK
Crude Oil Strengthens Ahead of OPEC+ Meeting
OPEC+ will hold a virtual meeting on June 2 and is expected to maintain the production cut policy of 2.2 million barrels per day to support crude oil prices.

Continuing in Bullish Bias

The price continues its bullish movement after breaking through the downtrend line. Buy opportunities can be sought again if there is a breakout above the resistance area.

Forecast: STRONG OIL

Resistance Levels:

  • R1: 80.42
  • R2: 79.49
  • R3: 80.95
  • R4: 81.33

Support Levels:

  • S1: 79.49
  • S2: 80.52
  • S3: 78.99
  • S4: 78.49

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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