FX.co ★ CL/Crude Oil

Hello traders. #CL / Oil / OILUSD. Good day. Oil finished the past week with another bullish candle, so there is a possibility of continuing the movement to the north next week, especially against the backdrop of updating the local maximum. On the hourly chart, the indicators currently support further movement to the north, but the underlying indicators have already stopped supporting the bullish sentiment, hinting at a local decline. Therefore, at the beginning of next week, I expect a small move to the south with an approximate target of 65.50-60 in the short term, and then it will show whether the bulls can maintain the initiative. On the four-hour chart, the indicators have drawn a full buy signal at the close, but it is not activated yet. On the other hand, the Bollinger Bands are starting to expand, indicating a probability of continuing the current upward impulse. However, I expect a small local correction first, and then we will most likely see a medium-term growth.