Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset, Wednesday August 16 2023.
August 16, 2023 10:27 am
From the daily Timeframe chart of crude oil commodity assets, it can be seen that there is a deviation between price movements and the MACD indicator . Besides that, currently the price movement is below WMA (20) confirming that within a few days if there is no upward correction rally which exceeds the level of 84.88 then # CL has the potential to weaken down to the 78.69 level as the main target and the 73.84 level as the next target.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
From the daily Timeframe chart of crude oil commodity assets, it can be seen that there is a deviation between price movements and the MACD indicator . Besides that, currently the price movement is below WMA (20) confirming that within a few days if there is no upward correction rally which exceeds the level of 84.88 then # CL has the potential to weaken down to the 78.69 level as the main target and the 73.84 level as the next target.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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