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Crude Breaking Away from Median Line

Crude Breaking Away from Median Line

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“A break above 54 (daily close) would indicate an important behavior change.”

-“Crude has broken above 54, shifting focus to the upper parallel, which intersects a resistance line near 67. Price needs to stay above 55.69 for the breakout to remain valid.”

-Continue to look higher but risk can be tightened now to 58.28.

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