Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset, Wednesday November 08,2023.
November 8, 2023 4:27 am
On the daily chart of Crude Oil commodity asset, there is the price movement as well asTenkan Sen and Kinjun Sen which is on the death cross intersect is below the Kumo. Even though the Chikou Span still inside the Kumo, but the Future Kumo (Chocolate Box) gives the Bearish clue (pink), which means currently seller is dominating, but with the appearance of the deviation between the price movement with osMA indicator, signaled that in the near future there will be an upward correction in a few days ahead where the level of 80.22 will become the target to be aimed and as long as the upward correction doesn’t exceed the level 90.86, then #CL still has the potential to weaken up to the level 68.77.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the daily chart of Crude Oil commodity asset, there is the price movement as well asTenkan Sen and Kinjun Sen which is on the death cross intersect is below the Kumo. Even though the Chikou Span still inside the Kumo, but the Future Kumo (Chocolate Box) gives the Bearish clue (pink), which means currently seller is dominating, but with the appearance of the deviation between the price movement with osMA indicator, signaled that in the near future there will be an upward correction in a few days ahead where the level of 80.22 will become the target to be aimed and as long as the upward correction doesn’t exceed the level 90.86, then #CL still has the potential to weaken up to the level 68.77.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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