Crude Oil Price Movement On August 10, 2020


After WTI Crude Oil touched the $41.26 level, the price is now trying to climb up above the 50% Fibo level between $42.00 - 42.50 before it is going down again. This asset is actually moving with a downward bias which has been already confirmed by the move in a downward slope Pitchfork on the 4-hour Chart. Now before WTI continues its downward movement, #CL is expected to make a retracement upwards first as long as the price does not break out and closes above the 42.85 level.


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