FX.co ★ CL/Crude Oil

Hello traders. #CL / Oil / OILUSD. Good day. Yesterday, oil made a decent move to the north, breaking through a local resistance zone and approaching the previous high. However, today it is taking a break, so the main movements can be expected next week. Technically, on the hourly chart, the indicators remain bullish for further upward movement, with one of the lagging indicators hinting at a continuation to the north. Therefore, in the short term, there is a possibility of further upside with an approximate target of 114.00-115.00. On the 4-hour chart, the indicators have also shown a new buy signal, but it has not been activated yet. At the same time, the Bollinger Band is starting to expand, indicating a likelihood of the current upward impulse continuing. However, politics have been influential lately, so there could be various scenarios, especially since things can change significantly over the weekend.