FX.co ★ bradtke.owen | CL/Crude Oil

In the oil market, the price of CL showed a good growth yesterday from the inclined support of the bullish channel. As a result, a bullish hammer was formed, however, today we do not see a continuation of the rise yet. In any case, the priority remains growth and buying the instrument. Possibly, the US oil inventory data, which will be published at 17:30 Moscow time, will give a push to the price as a decrease in these inventories is expected. If the growth continues, I consider the development of a significant upward wave within the bullish channel towards the round resistance level of 90.00. Therefore, buying in this direction on lower timeframes can be considered. I do not consider selling from current levels at all. Sales can be considered upon reaching the 90.00 mark. Tomorrow, GDP data for the US will also be published. We can also expect significant fluctuations in the instrument based on them. However, the main events are likely to occur next week when the next FOMC meeting takes place.