Crude Setback Would Present Long Setup
300 Minute Bars
Prepared by Jamie Saettele, CMT
The decline in crude from 10333 is in 3 waves and the rally from 9252 is impulsive. The combination of these 2 observations paints a bullish picture for crude as long as price is above 9252. Supports are 9715 and 9600 and a dip to there would present a bullish opportunity.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.