The price of CL (Crude Oil) is currently trading at $96.36, with key technical indicators suggesting a potential reversal. The Relative Strength Index (RSI) for CL is at 80.16, indicating overbought conditions, which often precedes a price correction. The MACD line is above the signal line, but the histogram is showing a decline in upward momentum, signaling a potential trend reversal.
The Fibonacci levels for CL indicate strong resistance at $98.08 and support at $89.57. The current price is trading near the upper resistance level, suggesting a high likelihood of a pullback.
Recent news indicates a decline in oil prices due to concerns over U.S. import tariffs and rising OPEC+ output. Geopolitical tensions, including U.S. sanctions on Russia and Iran, are adding to market uncertainty. However, analysts expect support around $65/$62 to hold firm before a recovery.
Based on the technical indicators and news sentiment, the price of CL is expected to decline next week. The exact price target is $93.12, with a recommendation to sell due to overbought conditions and weakening upward momentum.
The price of CL is predicted to go up 9.57%, based on the high correlation periods with ECBK. The similarity of these two price pattern on the periods is 95.02%.
CL
ECBK
Increased pet adoption (up by mid-single-digits in the US) during the pandemic could buoy Colgate's Hill's business over a longer horizon than we anticipate.
Even in the face of cost pressures, Colgate has been resolute in its commitment to investing behind its brand, with advertising spending up 18% in the fourth quarter, thus supporting its wide moat.
Colgate's gross margin averaged 59% over the past five years, and with management's claims that its gross margin in emerging markets outpaces developed regions, growth in these regions could propel profits even further.
Stifel
2025-01-17
Price Target
$101 → $95
Upside
+7.67%
Barclays
2025-01-17
Price Target
$96 → $83
Downside
-5.93%
JP Morgan
2025-01-16
Price Target
$109 → $103
Upside
+16.74%