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Crude Drops Through Trendline Support

Crude Drops Through Trendline Support

2012-01-09 22:32:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_oil_body_crude.png, Crude Drops Through Trendline Support

Prepared by Jamie Saettele, CMT

Last week’s failure at the November high and short term trendline break shifts focus to the 12/29 low at 9830 although there is potential support from former congestion just under Monday’s low. 10210/80 is resistance for Tuesday. Additional technical research can be found at DailyFX.com.

Bottom Line – flat

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