OIL Forex Analysis for Today – Monday(18-03-2024)
SELL Opportunity in OIL Now! Price Held at Resistance Area!
Daily Analysis CLSK
Economic News
Concerns about The Federal Reserve (The Fed) of the United States (US) may not be able to cut interest rates as inflation remains above the central bank’s target of 2%, affecting oil prices that are unanimously moving lower at the beginning of today’s trading.
Price Held at Resistance Area
Oil has the potential to pull back to its nearest support area and is confirmed to still be held at the resistance area on the H4 time frame. Selling opportunities can still be sought as long as the price does not break through the resistance area.
Prediction: WEAK OIL
Resistance
- R1 83.67
- R2 80.83
- R3 84.40
- R4 85.82
Support
- S1 81.12
- S2 83.67
- S3 80.47
- S4 79.95
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.