With the price movement of the Crude Oil commodity asset moving in a downward channel and below the 100-day average price movement, this has confirmed that the bias of #CL is still dominated by sellers where in the next few days it seems #CL will try to test the support level. The daily Bullish Orderblock is at the level of 72.91 but due to the emergence of deviations between price movements and the CCI indicator and if the level of 72.91 turns out to be strong enough to withstand a downward correction #CL will have the potential to appreciate up and up to test the level 77> 76 as the first target and if the momentum and volatility are sufficient If the level is strong then the 83.33 level will be the next target to be chased with a note that during the upward correction journey towards the levels described earlier there is no price movement that returns to its initial bias (Bearish) until it breaks below the 70.90 level because if this level is successfully met bus down, the upward correction scenario described earlier will become invalid and cancel by itself.
Relevance up to 02:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
