Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday February 06, 2024.

If we look on the 4 hour chart from the Crude Oil Commodity Asset, then it will seems 2 things, first, the appearance of Descending Broadening Wedge pattern and the second is the deviation between the price movement with Stochastic Oscillator indicator, then based on those 2 findings, we can conclude that in the near future, #CL has the potential to appreciate upwards as long as yhere is no weaken correction that breaks below the level of 70,51, then, this commodity asse has the potential to strengthen up to the level 74,26 as the main target and if the momentum as well as the volatility is supporting, then the level 78,11 will be the next target to be aimed of.

(Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com


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