For Traders

Analytical Reviews

Technical analysis

17.10.202308:52 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset, Tuesday October 17, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

With the appearance of deviations in Crude Oil price movements with the CCI indicator on the daily chart which also happened to have succeeded in breaking below the three main levels (100, 0, -100) on the daily chart as well as price movements which were below the WMA (30 shift 2) indicating that in In the next few days #CL has the potential to fall back down to level 81.51 as the main target and if the momentum and volatility are supportive enough then level 77.59 will be the next target to be aimed at provided that during its journey to these target levels there is no upward correction which exceeds the 89.58 level because if this level is successfully broken, the decline scenario that has been described previously will automatically cancel itself.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.