🛢 CL OIL, H4 🛢 25 March 2024
Crude oil prices witnessed a slight retreat amidst optimism surrounding potential ceasefire
negotiations between Israel and Hamas. US Secretary of State Antony Blinken's remarks, indicating progress in talks held in Qatar aimed at reaching a ceasefire agreement for Gaza, tempered concerns over oil supply disruptions. This development, coupled with the potential alleviation of geopolitical tensions, contributed to the easing of fears in the oil market.
Oil prices are trading lower while currently testing the support level. Suggesting the commodity might experience technical corrections.
Resistance level: 82.85, 84.10📉
Support level: 80.20, 78.00📈
Crude oil prices witnessed a slight retreat amidst optimism surrounding potential ceasefire
negotiations between Israel and Hamas. US Secretary of State Antony Blinken's remarks, indicating progress in talks held in Qatar aimed at reaching a ceasefire agreement for Gaza, tempered concerns over oil supply disruptions. This development, coupled with the potential alleviation of geopolitical tensions, contributed to the easing of fears in the oil market.
Oil prices are trading lower while currently testing the support level. Suggesting the commodity might experience technical corrections.
Resistance level: 82.85, 84.10📉
Support level: 80.20, 78.00📈