Technical Analysis of Daily Price Movement of Crude Oil Commodity Aset, Monday May 29, 2023.
May 29, 2023 6:24 am
If we look on the daily chart of Crude Oil commodity asset on its daily chart, then there will be two important things such as :
1. The Appearance of Bullish 123 Pattern followed by Ross Hook (RH).
2. There is a deviation between price movement with indicator MACD.
So, based on two things above, then as long as there is no downward correction which going down below the 69.40 level, then #CL has the potential to appreciate the rally going up where the 74.72 level will try to be tested to be penetrated upwards and if it is successfully broken then #CL will try to go to the 75.81-79.77 area.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look on the daily chart of Crude Oil commodity asset on its daily chart, then there will be two important things such as :
1. The Appearance of Bullish 123 Pattern followed by Ross Hook (RH).
2. There is a deviation between price movement with indicator MACD.
So, based on two things above, then as long as there is no downward correction which going down below the 69.40 level, then #CL has the potential to appreciate the rally going up where the 74.72 level will try to be tested to be penetrated upwards and if it is successfully broken then #CL will try to go to the 75.81-79.77 area.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: