Chart of the Day – Crude – (July 17th, 2023)

<div><p><div><h2 itemprop="headline">A strong rejection of the 127% extension and 200dma. </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>As the market was believing that the move above the $75.00 level was a “breakout” the crude market hit the 127% extension and 200dma last week at the $77.27 level, we forged a <a href="https://www.forexanalytix.com/blog/education/candlestick-analysis/">“dark cloud cover”</a> candlestick formation and is closing back in the old range. A break of the $74.00 level may open up a move back to the 50dma at $71.60.</p>
<p><img decoding="async" class="alignnone size-full wp-image-10595" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02.png" alt="" width="1502" height="845" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02-400×225.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02-800×450.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02-768×432.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02-1500×844.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02-705×397.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/USOIL_2023-07-17_13-21-02-450×253.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
<p><a href="https://traderfundingprogram.com/?ref=Forexflow"><img decoding="async" loading="lazy" class="size-full wp-image-10111 aligncenter" src="https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2.png" alt="" width="728" height="90" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2.png 728w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-400×49.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-705×87.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-450×56.png 450w" sizes="(max-width: 728px) 100vw, 728px" /></a></p>
</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
</div></section></p>
<div><div><div><h5>Share this entry</h5><ul><li><a target="_blank" href="http://www.facebook.com/sharer.php?u=https://www.forexanalytix.com/blog/chart-of-the-day-july-17th-2023/&amp;t=Chart%20of%20the%20Day%20–%20Crude%20–%20%28July%2017th%2C%202023%29" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Facebook"><span>Share on Facebook</span></a></li><li><a target="_blank" href="https://twitter.com/share?text=Chart%20of%20the%20Day%20–%20Crude%20–%20%28July%2017th%2C%202023%29&amp;url=https://www.forexanalytix.com/blog/?p=10587" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Twitter"><span>Share on Twitter</span></a></li><li><a target="_blank" href="https://plus.google.com/share?url=https://www.forexanalytix.com/blog/chart-of-the-day-july-17th-2023/" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Google+"><span>Share on Google+</span></a></li><li><a target="_blank" href="http://linkedin.com/shareArticle?mini=true&amp;title=Chart%20of%20the%20Day%20–%20Crude%20–%20%28July%2017th%2C%202023%29&amp;url=https://www.forexanalytix.com/blog/chart-of-the-day-july-17th-2023/" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Linkedin"><span>Share on Linkedin</span></a></li><li><a target="_blank" href="http://www.tumblr.com/share/link?url=https%3A%2F%2Fwww.forexanalytix.com%2Fblog%2Fchart-of-the-day-july-17th-2023%2F&amp;name=Chart%20of%20the%20Day%20–%20Crude%20–%20%28July%2017th%2C%202023%29&amp;description=" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Tumblr"><span>Share on Tumblr</span></a></li><li><a target="_blank" href="http://reddit.com/submit?url=https://www.forexanalytix.com/blog/chart-of-the-day-july-17th-2023/&amp;title=Chart%20of%20the%20Day%20–%20Crude%20–%20%28July%2017th%2C%202023%29" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Reddit"><span>Share on Reddit</span></a></li><li><a href="mailto:?subject=Chart%20of%20the%20Day%20–%20Crude%20–%20%28July%2017th%2C%202023%29&amp;body=https://www.forexanalytix.com/blog/chart-of-the-day-july-17th-2023/" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share by Mail"><span>Share by Mail</span></a></li></ul></div></div></div>
<p>The post <a rel="nofollow" href="https://www.forexanalytix.com/blog/chart-of-the-day-july-17th-2023/">Chart of the Day – Crude – (July 17th, 2023)</a> appeared first on <a rel="nofollow" href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>