OIL Forex Analysis for Today
OIL Has SELL Opportunity Again, Check Resistance Area
CLSK Analysis
Ceasefire Hopes Limit Price Increase
Yesterday, the American Petroleum Institute (API) reported that US crude oil inventories fell by 3.9 million barrels last week, but the strengthening of crude oil prices was restrained by hopes of a ceasefire in the Middle East. The official US government crude oil inventory data will be announced tonight.
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: 80.00
- R2: 78.00
- R3: 76.00
- R4: 74.00
Support
- S1: 78.84
- S2: 76.25
- S3: 74.88
- S4: 73.56
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