Never miss a story from Kristian Kerr

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Kristian Kerr

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Talking Points

  • Cyclical analysis points to upcoming range break
  • Multi-year median line channel continues to influence

Unfamiliar with Gann Square Root Relationships? Learn more about them HERE.

Crude continues to consolidate above a pitchfork line drawn from the 2013 and 2014 highs (currently at 58.80). We had hoped a clear break of this level would re-instill some upside momentum into the commodity, but so far that clearly has not been the case. This could soon change, however, as cyclical analysis suggests that oil is vulnerable to a breakout from the range over the next few days. The 62.56 high in May occurred during a key cycle turn window and it looks to be a pretty clear upside pivot for the market as traction above there would confirm that a more important push to the upside is indeed underway. A decline back under 58.80 would put the commodity on the back foot and raise the possibility of a downside break from the multi-week range, but only aggressive weakness under 57.50 would turn the technical picture outright negative.

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

Crude Daily Chart: June 26, 2015

Break Coming in Crude?

Charts Created using Marketscope – Prepared by Kristian Kerr

Key Event Risk in the Week Ahead:

Break Coming in Crude?


Resistance: 61.80 (MTD high), 62.56 (May high)

Support: 58.80 (Andrews) 57.55 (May closing low)

Strategy: Buy Crude

Entry: Buy Crude if it settles above 62.56 over the next few days

Stop: Daily close below 61.80

Target: Open

--- Written by Kristian Kerr, Senior Currency Strategist for

To contact Kristian, e-mail Follow me on Twitter at@KKerrFX.