With the price movement forming Higher Low - Lower Low and supported by the decreasing slope of WMA (30 Shift 2) and the movement of Crude Oil prices moving below it, it is clear that the Sellers are quite dominant so that in the near future it has the potential to bring #CL down to level 55.46 again if this level is successfully broken below then #CL will continue to weaken to level 54.25 even if the momentum and volatility of the weakening support it is not impossible that level 52.10 will be the next target. But it should also be noted that because of the appearance of divergence between price movements and the Stochastic Oscillator indicator, there is also the potential for strengthening where 58.53 has the potential to be tested in the near future but as long as the strengthening does not penetrate and close above level 59.85 then the weakening condition on #CL will continue.
(Disclaimer)
