Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Monday June 19, 2023.
June 19, 2023 6:24 am
If we look on the 4 hour chart Crude Oil commodity asset seems being corrected to rally upwards with the aim of the 72.07 level as the main target and the 72.79 level as the second target where this has been confirmed by the CCI indicator which has managed to broke its three levels -100,0, & 100 and the formation of the Bullish 123 pattern and the Bullish Ross Hook but It should be noted that the appearance of the Ascending Broadening Wedge pattern indicates a potential weakening in the upward correction which however as long as the weakening does not break below the 69.08 level, the bullish rally correction scenario described earlier is still valid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look on the 4 hour chart Crude Oil commodity asset seems being corrected to rally upwards with the aim of the 72.07 level as the main target and the 72.79 level as the second target where this has been confirmed by the CCI indicator which has managed to broke its three levels -100,0, & 100 and the formation of the Bullish 123 pattern and the Bullish Ross Hook but It should be noted that the appearance of the Ascending Broadening Wedge pattern indicates a potential weakening in the upward correction which however as long as the weakening does not break below the 69.08 level, the bullish rally correction scenario described earlier is still valid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: