Future Trend Analysis Report
Prepared for you on Friday, June 2, 2023.
CRUDE OIL Aug 2023 (NYMEX:CL.Q23)
Sidelines Mode (-55) - CL.Q23 is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CL.Q23?
MarketClub looks at technical strength and momentum to determine if the timing is right for CL.Q23.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CL.Q23
The long-term trend has been DOWN since May 3rd, 2023 at 65.65
The intermediate-term trend has been DOWN since Apr 26th, 2023 at 76.05
The short-term trend has been UP since Jun 2nd, 2023 at 70.46
Smart Scan Analysis for CL.Q23
Based on our trend formula, CL.Q23 is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).