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20.01.202506:22 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Crude Oil Commodity Instrument, Monday January 20, 2025.

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Exchange Rates 20.01.2025 analysis

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)

Arief Makmur
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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