60 Minute Bars
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.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to jsaettele@dailyfx.com.
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