FX.co ★ CL/Crude Oil

Good day, colleagues! Yesterday, oil did not show much volatility during the day, but managed to slightly increase in price and on H4 stayed above the trendline support, ending the week with growth. If this trend continues next week, then the previous assumption that oil's target is at 86.27 was correct, and we will see further growth towards this maximum. Friday evening the price dropped into the buy imbalance zone and reacted upwards after testing this area, confirming the bullish sentiment and the desire to continue rising. It is quite likely that at the beginning of the week there may be a pullback, but it should not be too deep. If oil is going to rise, the trend line should continue to support the price and not let it fall too low.

Good luck to everyone!