FX.co ★ CL/Crude Oil

Crude oil # CL continues to trade within the boundaries of an upward-directed channel and at this stage is developing a move from the upper boundary of the channel (88.00) to its lower boundary. Since a price gap formed at the opening of trading in oil # CL, an upward move from the MA 89 line (85.57) to close the price gap (87.97) with a subsequent decline of # CL to the lower boundary of the channel (84.30) cannot be ruled out.