OIL Forex Analysis – Friday (16-02-2024)

OIL Forex Analysis – Friday (16-02-2024)

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


  • R1 79.41
  • R2 78.50
  • R3 79.93
  • R4 80.45


  • S1 78.50
  • S2 79.41
  • S3 78.07
  • S4 77.60

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