OIL Forex Analysis for Today – Thursday (15-02-2024)
https://onlineforexafrica.com/
OIL BREAKS TRENDLINE, Monitor Opportunities for SELL
Daily Analysis CLSK
US Oil Reserves Increase
Crude oil prices corrected as data showed a 12 million barrel increase in US oil reserves last week, while demand decreased by 973,000 barrels.
Breaks Trendline
Crude oil prices break below the upward trendline observed in the H1 time frame. Sell opportunities can be sought if there is a pullback to the resistance area.
Prediction: WEAK OIL
Resistance
- R1 77.86
- R2 76.96
- R3 78.43
- R4 79.23
Support
- S1 76.96
- S2 77.86
- S3 76.55
- S4 75.89
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. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.