Future Trend Analysis Report
Prepared for you on Monday, February 6, 2023.
CRUDE OIL May 2024 (NYMEX:CL.K24)
Bear Market Rally (-75) - CL.K24 is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on CL.K24 as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid CL.K24?
MarketClub looks at technical strength and momentum to determine if the timing is right for CL.K24.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CL.K24
The long-term trend has been DOWN since Dec 7th, 2022 at 72.50
The intermediate-term trend has been UP since Jan 18th, 2023 at 76.15
The short-term trend has been DOWN since Jan 31st, 2023 at 73.40
Smart Scan Analysis for CL.K24
Based on our trend formula, CL.K24 is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).