FX.co ★ bradtke.owen | CL/Crude Oil

#CL / Oil / OILUSD

Sunday technical analysis of the pair on the 1-hour chart. Here the price worked out the TF high at the 93.67 level and then corrected downward from there. It only had enough strength to reach the middle of the trend. From the flat level (75.02) the price is starting to move back up. The price is starting to work off the large blue zone; the red zone, which has only just begun to form, can be used by the price as a support level during growth. The price can fully work off the blue zone and return to re-test the high, which is now being formed around the 90.52 and 93.67 levels, or slightly higher.