Crude in a Violent Range-Support is Under 100

60 Minute Bars

Prepared by Jamie Saettele, CMT

Crude has been swinging violently in a little more than 3 dollar range since 1/4. Such action is typical of a triangle or flat. In the case of a triangle, the range will contract over the next week before an upside break. In the case of a flat, crude will probably slip below 100 before reversing higher.

Bottom Line – flat