FX.co ★ Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday July 30, 2024.

From what we see on the 4-hour chart of the Crude Oil commodity asset, it seems that Sellers are quite dominant, which can be seen clearly from the price movement that moves within the Bearish Pitchfork channel and the EMA 20 indicator that intersects below the EMA 50 where the price movement is also below both EMAs and is also confirmed by the Momentum indicator which has successfully broken its trendline downwards so that based on these facts in the near future #CL has the potential to weaken down to the level of 73.89 as its main target and if the momentum and volatility support it, the level of 72.49 will be the next target to be targeted, but all of these weakening scenarios will be invalid and canceled by themselves if suddenly there is a strengthening correction that penetrates above the level of 78.64.

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