OIL Forex Analysis for Today – Monday (06-05-2024)
Still Seeking to SELL, OIL Continues to be Pressured!
CLSK Analysis
US Job Data Weighs on Oil
Crude oil prices are under pressure as market participants consider lower-than-expected US job data and the potential delay in Fed interest rate cuts.
Sell If Breaks Support
Prices are still under pressure. Sell opportunities can be taken if there is a breakthrough below the support level seen on the H1 timeframe.
Prediction: WEAK OIL
Resistance Levels
- R1: 80.06
- R2: 77.76
- R3: 80.90
- R4: 82.39
Support Levels
- S1: 77.76
- S2: 80.06
- S3: 76.77
- S4: 75.52
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