Crude Reversing after Piercing Resistance Line
Prepared by Jamie Saettele, CMT
Crude has reached and slightly exceeded the resistance line that defines the trend from the May high. There are several patterns that could be forming since the August low but the best description of the market since then is range within a larger downtrend. As such, trade accordingly.
Trend Strength (M,W,D) – (1), 0, 1
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