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Technical analysis

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

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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.

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Arief Makmur
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