OIL Forex Analysis for Today – Friday (16-02-2024)
OIL Re-test TRENDLINE and Resistance, Monitor Opportunities for SELL
Daily Analysis CLSK
Weakening Dollar Supports Oil
Crude oil prices rise again, supported by a weakening dollar after US retail sales data fell lower than expected.
Pullback to Trendline Area
Crude oil prices re-test the rising trendline area that was previously breached on the H1 time frame. Opportunities to sell can be sought in the trendline and resistance area.
Prediction: WEAK OIL
Resistance
- R1 79.41
- R2 78.50
- R3 79.93
- R4 80.45
Support
- S1 78.50
- S2 79.41
- S3 78.07
- S4 77.60

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