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Crude Oil (CL)
A medium-term decline appears to be forming in the oil market. On Monday, the price failed to break above the balance indicator line (there was a false breakout with an upper shadow, but the day closed with a black candle), and today, the session opened below the 61.55 level, indicating the price intends to continue its downward movement.
We also observe the Marlin oscillator declining in advance, approaching the key neutral (zero) level — the oscillator's signal line is expected to cross below zero before the price potentially drops below the 60.46 level. This suggests that the oscillator will likely pull the price down toward the 59.20 level. If this happens, oil could fall to the price levels seen in early April and May — around 55.39.
On the H4 chart, the price has consolidated below the 61.55 level. However, here, the Marlin oscillator is not yet leading the price. Still, its sentiment is bearish, and we expect the price to reach the nearest target level at 60.46 (the lows of April 16 and May 15).
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*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
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