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FX.co ★ Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset,Wednesday, February 28 2024.

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Forex Analysis:::2024-02-28T04:10:52

Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset,Wednesday, February 28 2024.

Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset,Wednesday, February 28 2024.

With the appearance of the Deviation between Stochastic Oscillator indicator with the Crude oil commodity asset price movement which is confirmed by the price movement which is moving above the WMA 30 Shift 2 which is also has the upward slope, then in the near future #CL has the potential to appreciate up to the level 78.95. If this level manages to broke, then #CL seems will continue its strengthening to the level of 79,92, especially if the momentum as well as the volatility is supporting enought, but we shoud remember that because of the faily chart forming the Ascending Broadening Wedge Pattern, then #CL still has the potential to corrected weaken, but as long as the correction does not weaken significantly, especially not breaking below level 77.17, then #CL is still in a strengthening condition.

(Disclaimer)

Analyst InstaForex
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