OIL Forex Analysis – Monday (29-04-2024)

OIL Forex Analysis – Monday (29-04-2024)

OIL Forex Analysis for Today – Monday (29-04-2024)

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Prepare to SELL OIL! Monitor Potential Support Breakthrough

OIL Daily Analysis – CLSK

Potential Decline in Demand

Crude oil weakened at the start of the Asia session as updates on US inflation data further reduced prospects of near-term interest rate cuts. This data was followed by USD strengthening, impacting the decrease in crude oil demand.

Monitor Support Breakthrough

Prices are moving down towards the support area. Sell opportunities can be sought if there is a breakthrough below the support area.

Prediction: WEAK OIL

Resistance Levels

  • R1: 84.64
  • R2: 82.29
  • R3: 85.13
  • R4: 86.56

Support Levels

  • S1: 82.29
  • S2: 84.64
  • S3: 81.53
  • S4: 80.69

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