FX.co ★ Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday July 09, 2024.

From what we can see on the 4-hour chart of the Crude Oil commodity asset which is currently below the EMA 20 & EMA 50, we can see that #CL is weakening, especially after successfully breaking below the 82.45 level and testing it again, but 82.45 has become a Bearish Breaker Resistance The block is strong enough so that #CL is now weakening down and this weakening has also been confirmed by the emergence of deviations between #CL price movements which previously formed a Higher High while the Awesome Oscillator indicator on the contrary formed a Higher Low so based on these facts in the near future # CL will weaken down to level 80.96 as the main target and if momentum and volatility support then level 79.50 will be the next target to be aimed at, however this weakening scenario could become invalid if on its way to these levels suddenly #CL returns strengthened and broke above level 82.84.

(Disclaimer)