OIL Forex Analysis for Today, Wednesday(28-02-2024)

OIL Forex Analysis for Today, Wednesday(28-02-2024)

OIL Forex Analysis for Today, Wednesday(28-02-2024)

Oil Moving Comfortably, BUY on Breakhigh

Daily Analysis CLSK

Comfort Zone Crude Oil Prices

Global crude oil market is expected to remain stable around $80 per barrel this year, with global demand peaking in the early 2030s. The decline in fossil fuel demand will be slower than anticipated, with electric vehicle sales reducing oil demand by 500,000 barrels per day. Geopolitical conditions, such as progress towards a ceasefire in Gaza, also support prices on the supply side.

Key Resistance Testing Price

With the ‘comfortable’ global conditions, CLSK has the opportunity to move in a consistent ranging area between 75.00 – 79.00. Oil has the potential to touch the $80 area again if the price successfully breaks the 79.50 peak.

Prediction: STRONG OIL


  • R1 79.50
  • R2 77.35
  • R3 80.60
  • R4 81.30


  • S1 77.35
  • S2 79.90
  • S3 76.92
  • S4 75.23

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