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Crude Plunges Nearly 18% in May

Crude Plunges Nearly 18% in May

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Plunges Nearly 18% in May

Prepared by Jamie Saettele, CMT

Crude’s decline of nearly 18% was the largest one month decline since October 2008. That alone should tell you what kind of situation the global economy faces. It feels as though we are getting close to some sort of a panic low…at least in time. In price, that low could be at least several % lower. Levels are noted.

LEVELS: 8314 8421 8500 8824 8928 9019

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