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Crude Oil Hits Important Retrace Level

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Crude Oil Futures (NYMEX_DL:CL2!)  
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NYMEX_DL:CL2!   Crude Oil Futures
Technical Indicators Beyond Technical Analysis Trend Analysis
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indicator beyondta trendanalysis
The Crude Oil rally off the 10/06/23 bottom continued into 10/20/23 and hit the Fibonacci .666 or 2/3 retracement level.

Hour RSI had a double bearish divergence at the top.

Theres a high probability of Crude Oil declining to at least the 80.00 area. Seasonal patterns for Crude Oil are bearish until late December. A decline could reach the 75.00 area.

Idee correlate

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Crude Oil Important Support Level
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Crude Oil Secondary Top
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Crude Oil Crashes
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Crude Oil Could Decline to 60.00
Declinazione di responsabilità

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