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Daily Technical Analysis Research 07.11.2024 – Global Markets (OIL)

OIL (WTI/USD | BRENT):

Oil is currently trading at approximately $71.49, making it an interesting asset to watch in the coming years, particularly with Trump’s election.

Daily Technical Analysis Research 07.11.2024 - Global Markets (OIL) - Screenshot 2024 11 07 at 14.20.25 1024x606

Examining the technicals more closely, it’s clear that if prices continue to rise, the internal resistance area around $78.00 will be a key level to watch. Conversely, if prices decline, I’ll be interested to see how the support level near $66.00 holds up.

Daily Technical Analysis Research 07.11.2024 - Global Markets (OIL) - Screenshot 2024 11 07 at 14.20.36 1024x601

Author

Matthew Hayward
Matthew is a well-experienced Market Analyst with a key focus on both Fundamental and Technical Analysis. He has experience in covering various market topics including Cryptocurrency, Foreign Exchange, Indices, and Commodities. He looks to provide we...
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