Future Trend Analysis Report
Prepared for you on Tuesday, December 5, 2023.
CRUDE OIL Aug 2024 (NYMEX:CL.Q24)
Strong Downtrend (-100) - CL.Q24 is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, CL.Q24 continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid CL.Q24?
MarketClub looks at technical strength and momentum to determine if the timing is right for CL.Q24.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CL.Q24
The long-term trend has been DOWN since Nov 8th, 2023 at 74.30
The intermediate-term trend has been DOWN since Nov 7th, 2023 at 76.89
The short-term trend has been DOWN since Dec 1st, 2023 at 74.21
Smart Scan Analysis for CL.Q24
Based on our trend formula, CL.Q24 is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).