Technical Analysis of Weekly Price Movement of Crude Oil Commodity Asset, Wednesday August 02 2023.

On the weekly chart of the Crude Oil commodity asset, it can be seen that the CCI indicator has managed to break its three main levels (-100, 0, & 100) and the price movement is above WMA 20, so that in the coming weeks, Crude Oil will try to test the 83.52 - 85.15 area, but if on the way to the target level, suddenly there was a downward correction which broke below the level of 76.43, you can be sure that the bull scenario described earlier will cancel itself.

(Disclaimer)