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Crude Inside Day May Signal Beginning of Correction

Crude Inside Day May Signal Beginning of Correction

2012-05-09 21:49:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Weekly Bars

eliottWaves_oil_body_crude.png, Crude Inside Day May Signal Beginning of Correction

Prepared by Jamie Saettele, CMT

No change: “After dropping over $10 since the May 1 high, expect some corrective action…in both time and price. Resistance is 9865 and 10065 (50% retracement of drop from May 1 high is just above there). The next level of interest on the downside is the December low at 9251 (spot).”

Ideas:

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