OIL Forex Analysis for Today, Wednesday(22-05-2024)
https://onlineforexafrica.com/
OIL Slightly Pressured, Look for Sell Opportunities at Resistance
CLSK Analysis
Market Considers Geopolitical Impact Narrowing
The absence of price-moving catalysts, accompanied by a decline in crude oil prices, suggests that the market considers the impact of geopolitical tensions in the Middle East to be narrowing.
Look for Sell Opportunities at Resistance Area
Prices are testing the resistance area visible on the H1 time frame. Sell opportunities can be sought in this resistance area.
Forecast: WEAK OIL
Resistance Levels:
- R1 80.16
- R2 79.12
- R3 80.79
- R4 81.46
Support Levels:
- S1 78.67
- S2 79.12
- S3 77.87
- S4 77.23
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.