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Analytical Reviews

Technical analysis

16.08.202310:27 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset, Wednesday August 16 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 16.08.2023 analysis

From the daily Timeframe chart of crude oil commodity assets, it can be seen that there is a deviation between price movements and the MACD indicator . Besides that, currently the price movement is below WMA (20) confirming that within a few days if there is no upward correction rally which exceeds the level of 84.88 then # CL has the potential to weaken down to the 78.69 level as the main target and the 73.84 level as the next target.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2025

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