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Crude Trading Sideways

By , Sr. Technical Strategist
14 June 2012 22:06 GMT

Daily Bars

eliottWaves_oil_body_crude.png, Crude Trading Sideways

Prepared by Jamie Saettele, CMT

Crude has now retraced nearly 61.8% of the decline from 8660. There are several possibilities at the current juncture, including a triangle or flat from the June 4th low. In the event of a flat, price would exceed 8700 and perhaps even test 8926 before rolling over.

LEVELS: 7900 8000 8105 8394 8450 8585

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14 June 2012 22:06 GMT