Crude Threatening Fresh Highs
240 Minute Bars
Prepared by Jamie Saettele, CMT
Crude’s reversal yesterday at late December resistance (now support) continued today and price is threatening to take out the 1/4 high. We refrained from turning bearish due to the inability of price to break below the 1/3 low and so far that decision has served us well. Price is at support now and exceeding 10371 would shift focus to pivots from May at 10487 and 10654.
Bottom Line – flat
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.