Crude Channel Being Put to the Test
Prepared by Jamie Saettele, CMT
“Crude has reached and slightly exceeded the resistance line that defines the trend from the May high. The structure of the advance is impulsive (5 waves) thus one should expect a dip over the next week or so in order to correct the rally.” Support is 7959-8134.
Trend Strength (M,W,D) – (1), (1), 0
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.