On the 4-hour chart of the Crude Oil commodity asset, there are 3 interesting facts that can be seen, first the #CL price movement is above the WMA (30 Shift 2) which also has a slope that slopes upwards, second the appearance of a deviation between the #CL price movement which makes Lower-Low on the contrary the Awesome Oscillator indicator forms Lower-High, and third the appearance of the Bump & Run Reversal Bottom pattern so that based on these three facts it gives an indication that in the near future #CL has the potential to strengthen upwards where as long as there is no significant weakening correction to breaks below the 68.00 level then #CL will try to test to penetrate above the 71.34 level and if this level is successfully broken upwards then #CL has the opportunity to continue its strengthening to the 73.96 level as its main target and if the momentum and volatility support then the 76.58 level will be the next target to be aimed of.
(Disclaimerr)
