Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday July 04, 2023.
July 4, 2023 7:24 am
On the 4 hour chart, crude Oil Commodity asset, there is the CCI indicator which manages to break upside the three levels -100, 0 , &100 which means #CL on its 4 hour chart has a significant strengthening momentum which is currently being corrected slightly to gather its momentum again before strengthening again especially if the CCI indicator does not penetrate below the 0 and -100 levels again then #CL has the potential to strengthen and will test the Bearish Orderblock level 72.07 as the main target and 72.63 as the target both as long as there is no significant weakening corrective movement, especially if it manages to break below the level of 67.42 because if this level is successfully broken down then it is very likely that the strengthening scenario described earlier will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the 4 hour chart, crude Oil Commodity asset, there is the CCI indicator which manages to break upside the three levels -100, 0 , &100 which means #CL on its 4 hour chart has a significant strengthening momentum which is currently being corrected slightly to gather its momentum again before strengthening again especially if the CCI indicator does not penetrate below the 0 and -100 levels again then #CL has the potential to strengthen and will test the Bearish Orderblock level 72.07 as the main target and 72.63 as the target both as long as there is no significant weakening corrective movement, especially if it manages to break below the level of 67.42 because if this level is successfully broken down then it is very likely that the strengthening scenario described earlier will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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