Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset, Tuesday April 02, 2024.

From what we seen on the daily chart of Crude Oil commodity asset, there is seems the price movement which is moving above MA 20 & MA 200 as well as inside the Equisidant Channel that has the upward slope, so that based on these facts, gives the clue if the Buyers dominates this commodity assets along with the appearance of Bullish 123 followed by a few of Bullish Ross Hook (RH), then in a few days ahead #CL has the potential to continue its strengthening to test the nearest Ross Hook (RH) levels in 84,48. If this levels successfully broken upward, then #CL has the potential to test the next level on 85,60 as the main target and if the momentum as well as the volatility is supporting enough, then level 90,86 will be the next target to be aimed. However, all these strengthening scenario will become invalid if on the way to those levels suddenly there is a weakness correction which breaks below the level of 80,31.


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