News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇳🇿 Interest Rate Decision due at 02:00 GMT (15min) Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2021-04-14
  • S&P 500 Index Hits Record Highs as Bond Yields Drop, Nikkei 225 Falls as Machine Orders Contract https://www.dailyfx.com/forex/market_alert/2021/04/14/SP-500-Index-Hits-Record-Highs-as-Yields-Drop-Nikkei-225-Falls-as-Machinery-Order-Contracts.html https://t.co/OuLYfGRzZJ
  • The British Pound's technical posture against the Australian Dollar, Canadian Dollar and Swiss Franc presents near-term levels that may dictate upcoming price action. Get your market update from @FxWestwater here:https://t.co/vm7xpuum5D https://t.co/cQmZy3OoZK
  • (Market Alert) Singapore Dollar Gains on MAS, GDP Beat. Will USD/SGD Breach Key Support? $USDSGD #SGD #MAS #Singapore #GDP https://www.dailyfx.com/forex/market_alert/2021/04/14/Singapore-Dollar-Gains-on-MAS-GDP-Beat-Will-USDSGD-Breach-Key-Support.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2GuNEq99qr
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzNxLW https://t.co/aPrncDYD5r
  • Heads Up:🇦🇺 Westpac Consumer Confidence Index (APR) due at 00:30 GMT (15min) Previous: 111.8 https://www.dailyfx.com/economic-calendar#2021-04-14
  • 🇸🇬 GDP Growth Rate QoQ Adv (Q1) Actual: 2.0% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2021-04-14
  • $USDSGD sinking to its lowest since April 7th/9th after #Singapore 1Q GDP surprised higher #MAS also left policy largely unchanged The passing of key event risk likely opened the door for #SGD to advance following #USD weakness on Wall Street (full alert to follow!) https://t.co/BofEUnFgYD
  • 🇸🇬 GDP Growth Rate YoY Adv (Q1) Actual: 0.2% Expected: -0.2% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-04-14
  • 🇯🇵 Machinery Orders YoY (FEB) Actual: -7.1% Expected: 2.3% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2021-04-13
Crude Weakness Viewed as Dip in Larger Uptrend

Crude Weakness Viewed as Dip in Larger Uptrend

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_oil_body_crude.png, Crude Weakness Viewed as Dip in Larger Uptrend

Prepared by Jamie Saettele, CMT

I wrote yesterday that “the rally from the 2/2 low is unfolding in an impulsive manner thus the decline from 10995 is viewed as a correction on the way to higher prices. The support ‘zone’ is 10675-10459. Specifically, the decline from 10995 is probably a 4th wave so the next rally would compose wave 5. In commodities however, 5th wave extensions are common. Objectives will be determined once evidence is sufficient to suggest that a low is in place.” Wave 4 is either complete or awfully close to complete. Levels that may produce the low (if not already in place) are 10611 (2 legs down from the top) and 10545 (2/23 low) and 10512 (38.2% retracement of wave 3).

Bottom Line – Higher

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES