OIL Forex Analysis for Today – Thursday (08-02-2024)
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Prepare to SELL OIL: Testing the Trendline!
Daily Analysis CLSK
The Middle East Situation Continues to Influence Prices
Oil prices rose yesterday after Israel rejected a ceasefire offer from Hamas, as negotiations continue to resolve the conflict in Gaza. The ongoing tension in the Middle East continues to impact prices.
Pullback to the Trendline Area
A pullback occurred to the trendline area, and it bounced back from the resistance zone. Monitor the trendline and resistance area for confirmation of sell signals.
Prediction: WEAK OIL
Resistance
- R1 77.15
- R2 73.58
- R3 78.12
- R4 80.50
Support
- S1 73.58
- S2 77.15
- S3 72.82
- S4 71.42
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