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Crude Working Towards 7700

By Jamie Saettele, CMT, Sr. Technical Strategist
03 September 2010 14:37 GMT

60 Minute Bars

eliottWaves_gold_1_body_100903_090330_CQG_IC_Screen.png, Crude Working Towards 7700

Prepared by Jamie Saettele

Taking a longer term look at Crude, expectations are for a drop below 6424. 6116 would be potential support (100% extension), followed by 5832 (former 4th wave extreme). Near term, crude may work higher to complete correction from 7075. 7710 and 7850 are resistance areas.

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03 September 2010 14:37 GMT