RSS Technical Analysis of Daily Price Movement of Crude Oil Commodity Instrument, Monday January 20, 2025.

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 RSS Technical Analysis of Daily Price Movement of Crude Oil Commodity Instrument, Monday January 20, 2025.

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On the daily chart, the Crude Oil commodity instrument can be seen after successfully breaking through the Failing Wedge pattern, a divergence appeared between the #CL price movement and the Stochastic Oscillator indicator. This indicates that even though there is currently a strengthening where this is confirmed by its price movement which is moving above the EMA (21) but in the next few days as long as #CL does not continue its strengthening until it breaks through and closes above 80.76, #CL has the potential to fall back down to 72.17, even if the momentum of the weakening and volatility is strong enough, it is possible that #CL will return to the level of 67.07.

(Disclaimer)

The material has been provided by InstaForex Company - www.instaforex.com
 
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