FX.co ★ Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Monday October 28, 2024.

From what is seen on the 4-hour chart, the crude oil commodity asset seems moving in a Sideways and ranging condition where this is confirmed by the appearance of a Triangle pattern indicating a decrease in volatility in the market and EMA 21 moving in the middle of the Candle body with a flat and even slope position even though the Stochastic Oscillator indicator is still in the Crossing Sell position so that based on these facts in the near future #CL has the potential to weaken as long as there is no strengthening that breaks through and closes above the level of 72.67 then #CL will try to test and break as well as close below the level of 68.97 if this level is successfully broken and closes below it then #CL has the potential to continue its weakening back to the level of 66.31 as its main target and 65.27 as the next target if supported by good volatility and momentum.

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