Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday June 14, 2023

With the appearance of deviations between price movements and the MACD indicator on the 4-hour chart - Crude Oil commodity assets, in the near future #CL has the potential to appreciate corrected rally upwards to test the Bearish Orderblock level at 70.62 as the main target and if the momentum and volatility are sufficiently supportive, it is not impossible that the 200 EMA will be the next target to aim for provided that on the way to these targets it does not occur #CL returns to its initial bias again especially not to break below the 67.92 level because if this level is successfully broken then the scenario of an upward correction above that has been described will become invalid and cancel by itself.

Analysis are provided by InstaForex

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