FX.co ★ Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset , Monday February 12, 2024.

From what we see on the daily chart, the Crude Oil commodity asset appears to be visible after being stuck at the level of the Bullish Rejection Block area, now #CL is gaining strengthening momentum, which is confirmed by the price movement which has succeeded in breaking above the WMA 30 Shift 2 as well as the indicator The Stochastic Oscillator is also crossing up so that in the next few days #CL has the potential to test level 79.15 if this level is successfully broke upwards and there is no significant weakening correction (due to the discovery of the Ascending Broadening Wedge pattern) especially if it broke downwards level 71.41 then #CL has the potential to go to level 84.05 and if the strengthening momentum and volatility is healthy and strong enough then it is not impossible that this commodity asset will go to level 88.12.

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