OIL Forex Analysis for Today, Wednesday (17-07-2024)
OIL Still Has SELL Opportunity, Break of Structure Observed
Analysis CLSK
Crude Oil Remains Under Pressure
Crude oil prices are still under pressure as reduced demand from China has a more significant impact than the potential decrease in US oil reserves.
Break of Structure
A support break marking a break of structure is visible on the H1 time frame. Selling opportunities can be sought in this area.
Forecast: WEAK OIL
Resistance
- R1 83.00
- R2 82.00
- R3 81.00
- R4 80.00
Support
- S1 81.66
- S2 79.96
- S3 79.05
- S4 78.17
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