Techincal Analysis of Daily Price Movement Of Crude Oil Commodity Asset, Wednesday May 24, 2023.
May 24, 2023 7:24 am
With the appearance of deviation between the price Movement Of Crude Oil Commodity Asset with the MACD indicator on the daily chart #CL and the emergence of a bullish pattern 123 although currently sellers are still dominating this market which is indicated by the Death Cross crossing between the MA 50 and 200 but it seems that the momentum force from #CL is trying to break above the level 73.87 and if this level is successfully abandoned then the 75.81-79.77 area will be the main target to be tested and the 83.52-86.17 area will be the next target to be tested as long as there is no downward correction movement that passes below the 69.40 level because if this level successfully broken down, the potential for an upward rally as previously described will become invalid and automatically cancel by itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
With the appearance of deviation between the price Movement Of Crude Oil Commodity Asset with the MACD indicator on the daily chart #CL and the emergence of a bullish pattern 123 although currently sellers are still dominating this market which is indicated by the Death Cross crossing between the MA 50 and 200 but it seems that the momentum force from #CL is trying to break above the level 73.87 and if this level is successfully abandoned then the 75.81-79.77 area will be the main target to be tested and the 83.52-86.17 area will be the next target to be tested as long as there is no downward correction movement that passes below the 69.40 level because if this level successfully broken down, the potential for an upward rally as previously described will become invalid and automatically cancel by itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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