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Crude Focus Still on December Low at 9251

Crude Focus Still on December Low at 9251

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Focus Still on December Low at 9251

Prepared by Jamie Saettele, CMT

After a week of consolidation, crude has broken lower and focus remains on the December low at 9251 (50% retracement of rally from 7494 is at 9227). The next level of interest comes in at resistance from September at 9049 and the 11/1/11 low at 8915. The downside is favored towards mentioned levels against 9574.

LEVELS: 9766 9574 9251 9049 8915

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