OIL Forex Analysis for Today, Wednesday (31-07-2024)
OIL Still Has SELL Opportunity: Symmetrical Triangle Still Exists
CLSK Analysis
Israel Attack Sparks Increase, China Still in Spotlight
Crude oil prices rose again after Israel retaliated against Hezbollah attacks. However, crude oil prices are generally still under pressure due to ongoing concerns about declining demand from China.
Symmetrical Triangle Still Exists
The symmetrical triangle pattern is still visible on the H1 time frame. Look for sell opportunities when a pullback to the lower line area occurs.
Prediction: WEAK OIL
Resistance
- R1 79.00
- R2 78.00
- R3 77.00
- R4 76.00
Support
- S1 77.80
- S2 75.56
- S3 74.34
- S4 73.14
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