OIL Forex Analysis for Today, Wednesday(03-04-2024)
Oil Still Has Opportunity to Seek Buying Again! Potential for Prices to Continue Rallying
Daily Analysis CLSK
Oil Prices Strengthen
Expectations of tightened supply due to OPEC+ production cuts, attacks on Russian refineries, and optimistic Chinese manufacturing data support increased demand in the second quarter of 2024.
Potential for Prices to Continue Rallying
Oil has the potential to continue its ascent and is supported by prices having already broken through the resistance area. Buying opportunities can be sought as long as prices do not penetrate the support area.
Prediction: STRONG OIL
Resistance
- R1 84.50
- R2 83.60
- R3 84.90
- R4 85.42
Support
- S1 83.60
- S2 84.50
- S3 83.15
- S4 82.60
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