Crude Trades to Highest Level Since June
240 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.” Risk on longs can be moved to the most recent pivot low at 9829 and the break to new highs shifts focus to the mid May high at 10650. Support is now 10190 and 10100.
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