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Crude 9250 and 8915 are of Interest

Crude 9250 and 8915 are of Interest

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude 9250 and 8915 are of Interest

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

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